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Betway facing £183,000 Leicester City pay-out to two hopeful customers

“The first bets we took on Claudio Ranieri’s team were around October"

Betway reveal they’ve accepted two lumpy bets on the Foxes at odds of 1,000/1

Leicester City started the season well-fancied to be relegated from the Premier League although Claudio Ranieri has barely put a foot wrong since replacing Nigel Pearson at the King Power Stadium.

The Foxes sit top of the table and they’re five points clear which has seen the bookmakers install Leicester as title favourites, with a 3-1 win at Manchester City neatly illustrating all the credentials to create a massive shock.

The Midlands team have certainly stunned the bookmakers who are now totting up their liabilities, with Betway having laid 1000/1 about Leicester earlier in the season.

Among the bets they received on City at this price included a £100 wager and a punt of €107 which alone run up a potential liability of £183,000. caught up with Betway spokesman Alan Alger who explained the Leicester City betting phenomenon and where it leaves his firm.

“Our pre-season price for Leicester City to win the Premier League was 2500/1. This found us somewhere in the middle of the price quotes for the Foxes and consequently we didn’t lay a penny on them before a ball was kicked.

“Usually at this time of the season you can take a chance on the supposed rags and lay a few £5 and £10 bets at huge prices. For years now, those kind of bets have always stayed firmly in our satchels.

“The first bets we took on Claudio Ranieri’s team were around October, once they had dropped to a price of 1000/1. Our biggest bets followed in late-November when their odds were still 1000/1.

“One Betway punter had £100 at that price and another had €107. Those two bets take £183k out of the book on their own. With lots of £5 and £10 bets elsewhere around that time Leicester moved into a position of being our biggest loser.

“A few people on the fringes of the betting industry have found this hard to believe. Put it this way – if no prices were updated and we stuck with our pre-season book, then Leicester would be a HUGE winner for us.

“But we update after every single round of games, and this is where the damage was done. Amazingly Arsenal have moved into a position of being our best winner in the last week or so. Tottenham would be good for us too.”

All odds were correct at time of posting.

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