Ladbrokes looking at £3m if Leicester win the Premier League

21 April 2016

Pretty much everyone who isn't a Tottenham Hotspurs fan is hoping Leicester City win the Premier League this season. The side who narrowly avoided relegation last year, with a small squad beating those with megabucks?

That's why sport can be brilliant.

The bookies aren't particularly thrilled at the idea though, as they stand to take a big ol' hit on their books should Ranieri & Co actually pull it off.

Ladbrokes have said that they're going to be hammered to the tune of £3 million, should Leicester lift the Premier League trophy this year - that's on top of the funds that have already been collected through cashing out in advance.

At the start of the season, some gamblers would have got around around 5000/1 for the Foxes to win the league. There's going to be some very happy punters if this pulls off.

Last month, one person already bagged themselves £72,000 from a £50 bet, which is a lovely return, and very likely to have resulted in a couple of blinding hangovers, at least.

Ladbrokes haven't been doing to well of late, so this is all a bit of a worry for them - their latest results showed an annual loss of £43.2m, which was blamed on the Cheltenham Festival.

Chief executive Jim Mullen said: "We have had an encouraging start to the year. Results throughout the first few weeks were largely in our favour and our customer metrics have continued to be strong".

"At Cheltenham we were reminded of the intense competition with offers and pricing at levels which, in our view, abandoned bookmaking principles."

"We competed hard but refused to pursue unsustainable strategies and our stance remains that we will compete where we know we can get the right returns from the right customers."

'Abandoning' principles? Mullen is referring to some digital bookies who refused to pay out winnings, and in some cases, closing accounts for unclear rules on promotions and bonuses.

Either way, there's some nice winnings to be had, regardless of the bookies gloom.

TOPICS:   Sports   UK News


  • Jordmista18

    I don't quite understand this, surely all the money backing the usually top 4 and a like would cover any loses?

    • Shipo1989

      You say they will lose £3 million,  Do you not think nearly every man and his dog have bet the likes of Chelsea, Man city ,  Arsenal and Man united.  

      I'm sure these losing bets that have been staked at the start and throughout the season have accumulated over £3 millions pounds,  straight into the bookmakers pocket.  

      You guys write articles as if its bad publicity for these bookmakers.  When in reality when a bookies tell you how much its lost,  it encourages you to bet.  

What do you think?

Connect with Facebook, Twitter, or just enter your email to sign in and comment.

Your comment