SBC News Voice of the Sports Betting Industry
Thanks to a selection of bets placed during the first four months of the season, bookmaker Sky Bet stands to pay out £5m if Leicester maintain top spot and win the Premier League title this season.
Twenty Sky Bet customers will win a combined £1m if Claudio Ranieri and his men do what was deemed the impossible. A single punter stands to win £200,000 after placing a £40 bet with the odds still at 5000/1.
Bookmakers and pundits alike refused to believe Leicester’s magnificent form would continue, and odds remained as high as 1000/1 in November.
The Foxes’ win over Manchester City on Saturday though has seen their odds slashed to 7/4 making them the current favourites to be crowned champions in May.
Sandro Di Michele, Head of PR at Sky Bet, said: “It’s great to see a Leicester City supporter having a speculative bet in August that is now a serious runner in February.”
He added: “If Claudio Ranieri’s team did the unthinkable it would be a terrible result for us, as we currently stand to lose over £5m if Leicester win the league. However it would be the greatest ever achievement in the history of the Premier League and who wouldn’t want to see that?”
