The day when the bookies lost big time

The world of betting is usually orchestrated in the way that betting shops and bookies don't record regular lose and maintain a step ahead of bettors. Questionable odds, low payouts, quick fingers by bettors and regular surprises in the world of sport is the primary cause for the bookies always keep an upper hand on bettors and regularly being on the winning side of the desk. However, 2015/2016 season make sure that bookies need to question their odds for any upcoming calculations.

After narrowly surviving the relegation from the Premier League, Leicester City received a twisted 5000/1 odd to win the league. Claudio Ranieri’s men left it late the previous season to barely hold on the Premier League status and went on to sing a few players that might improve this team, but at the same time keep the anticipated stars in Rhiyad Mahrez and Jamie Vardy.

To put their 5000/1 odds into perspective, we must take a look at other events that were available to bet on but had lower odds than the eventual title win for the Foxes. It was more likely that the king of rock and roll Elvis Presley was to be found alive (2000/1), to Pope Francis to play for Glasgow Rangers, British Prime Minister David Cameron being Aston Villa manager and Piers Morgan succeeding Arsene Wenger as Arsenal manager.

After it became clear that Leicester’s advantage compared to second-placed Tottenham was too big and that a sensation was on its way, English and European bookies were facing a 25-million-pound payout, which is probably the highest ever in the history of betting. By placing a joke bet at the beginning of the season, you could see receiving winnings more than 200k pounds. Not bad, right? An unnamed Leicester City fan picked up a 10k cheque, after placing a mere two pounds bet on the Foxes winning the Premier League.

What also helped Leicester’s case was the unbelievable distraught and suspicion towards their chances of securing the title, even when it was pretty clear that their train won’t stop. It was practically until May that bookies across the world gave excellent odds on Leicester City winning the title, giving Arsenal and Tottenham chances of overthrowing the Foxes from the top. So basically, you could invest money in January, still get a pretty good odd and win some serious cash.

We hardly believe that the bookies across the world will allow a similar mistake in the next couple of seasons, as they would scarcely afford another similar loss. It is up to us to scout and scoop the Premier league teams very early on and predict a potential upset and secure a six-figure win.

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