Betway loses big on Leicester win

Betway says Leicester’s win of the U.K. Premier League, coming from a rank outsider position of 2,500/1, is likely to trigger the firm’s biggest ever single market loss.

“Leicester winning the Premier League is the most remarkable story in the history of the competition, if not football as a whole. This most unlikely triumph will not be forgotten by both fans and bookmakers. For fans it’s jaw-dropping elation, while for us bookies it’s enormously expensive,” said Betway’s Alan Alger.

The betting damage started to be done as the online bookmaker laid a number of bets at 1000/1 after the Foxes won away at West Brom on 31st October. It didn’t provide figures for losses.

Even when two points clear of Arsenal at the top of the table at Christmas they were an underestimated 10/1 shot and Betway has paid a painful price, it said.

Betway says it’s offering 7/1 they finish in the top four next season, though thinks the team is more likely to be relegated.