How Leicester winning the Premier League cost the bookies £50 million!

The biggest upset in sporting history has been completed. A 2-2 draw between Chelsea and Spurs on Monday night made Leicester City Premier League champions. Bookmakers are reported to have lost £50 million as the 5,000/1 rank outsiders were crowned champions. Coral PR director Simon Clare said “The unique thing about Leicester is that people were betting throughout the season, and even in October we were still offering 2,000-1”

Bookie Bashing

Coral received £500,000 in bets on the Premier League outright market in total. Leicester winning the league cost Coral a £2.2 million pay out, resulting in a £1.7 million net loss. Sky Bet are also reporting a £4.7 million net loss on the Premier League outright market. One Leicester fan wins £35,440 and plans to put down a house deposit! Earlier this season one fan cashed out for £72,000 and another £29,000 from a £20 bet!

Jamie Vardy actually had a party!

Who’s looking forward to next years first MOTD

It’s unlikely we’ll ever see odds that long from the bookmakers after being burnt by the foxes. Paddy Power go 40/1 for Leicester to win the league again next year which is some way from 5,000/1 just 12 months ago!

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