UK Bookies take £20 million weekend football hit

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BAD NEWS

The week that saw the British Chancellor of the Exchequer George Osborne announce a triple tax whammy for UK gambling and sports betting operators, took a further turn for the worse as bookmakers reported an estimated £20 million hit on the weekends English and Scottish Premier Leagues results.

The weekend of the 22nd of March saw all 13 UK football favourites win their respective matches. With no draws, the weekends football action drew no positives for UK bookmakers.

UK igaming news source CalvinAyre.com reports that an accumulator on the weekends football betting would have paid out an incredible1203/1. English Premier League contenders Chelsea, Liverpool and Manchester City won their respective matches. Other ties saw Everton, Tottenham Hotspurs, Newcastle FC and Norwich FC win as favourites.

2014 is proving to be an unlucky year for sports betting operators, with regards to the English Premier League. In January, UK bookmakers were stung for £30 million in losses after the weekend of 11th of January saw all top five Premier League contenders win their weekend matches.

UK bookmakers will be hoping for positive results in the upcoming 2014 FIFA World Cup.

Risk management and football betting operations will be discussed at the upcoming Betting on Football Conference – 8th of May – Stamford Bridge London

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