2020_8_pragmatic.gif
2020_8_pragmatic.gif
2020_8_pragmatic.gif
CLOSE
× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine
GGA 2020 AffiliateCon
NEWS 3 May 2016

Bookies hit badly by Leicester City’s Premier League title win

By David Cook
Bookmakers have been paying out record sums on wagers after Leicester City was confirmed as Barclays Premier League champions on Monday.

Sky Bet has paid £4.6m on the Foxes’ triumph, which was widely reported as being 5,000-1 going into the first game of the season in August, paying out to 128 customers.

It is thought that the 5,000-1 odds make this the most unlikely win for bettors on a single event in UK sports-betting history.

While Sky Bet reported in February that players would have been given odds of 25,095/1 on Frankie Dettori’s seven consecutive victories at Ascot in 1996, it depends on whether that could be considered a single event when deciding if it is a more unlikely standalone win.

A total of 57 Ladbrokes customers were also victorious, with 36 of which cashing out early and the highest remaining bet being a £20 stake, giving the winner a prize of £100,000.

The total cost of the east midlands club’s success to operators is estimated to be around £25m, reportedly more than any other event in sporting history in the UK.

Leicester, which finished 14th last season after being seven points adrift of safety at the bottom of the table in March, can no longer be caught after Tottenham Hotspur’s 2-2 draw at Chelsea on Monday night left them seven points behind with two matches left to play.

Even with the impact not being too detrimental to business in the long term, it would not be too surprising to see Leicester given a mention in a few operators’ financial results later this year when assessing sports-betting figures.

The reporting of unfavourable sports results is even more likely to occur when considering that Leicester’s achievement occurred in the same half of the year where bookmakers lost £3.21 per customer at this year’s Cheltenham Festival, according to sports-betting social network bettingexpert.com.
RELATED TAGS: Sports Betting
DISCUSS THIS ARTICLE
IN-DEPTH 18 February 2020
A decade to remember
READ MORE

PREMIUM CONNECTIONS
Digital Isle of Man
Legal and Jurisdictions
Digital Isle of Man is responsible for the thriving Digital sector in the Isle of Man, spanning the Island's international ...
BetConstruct
Systems and Software
BetConstruct is a global award-winning technology and services provider for online and land-based gaming industry. BetConstruct's innovative and proven offerings ...
Global Gaming Awards
Industry Awards
The Global Gaming Awards London recognise the most innovative companies and individuals of the gaming world. The Awards are powered ...
NSoft
Systems and Software
NSoft is an award - winning internationally recognized software solutions provider for betting industry. The company has more than 200 employees ...
ActiveWins
PR and Marketing
ActiveWin has ripped up the rulebook on the traditional agency prototype. Our model is based on performance - as you ...
BBIN
Systems and Software
The Leading iGaming Software Supplier in Asia
1xPartners
Affiliate
1xPartners is the innovative and exciting affiliate program offered by 1xBet, one of the world's leading sportsbooks and casinos. Offering ...
Newgioco Group
Systems and Software
Newgioco Group, Inc. (OTCQB:NWGI) is a premier leisure betting technology company providing regulated online and land-based gaming and sports ...
Efbet
Systems and Software
We have partnered up with deVRealm in a joint venture for the development of new gambling technology platforms. The primary ...
Zimpler
Payments
Zimpler provides a complete In and Out payment solution for online services. That means we take care of identifying the ...