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Premier League Leader Leicester City Could Cost English Bookmakers $14M

Premier League side Leicester City "won again on Sunday, decreasing the chances that bookmakers will be able to buy bettors off," according to Darren Rovell of ESPN. At 5,000/1 odds to win the league at the beginning of the season, William Hill spokesperson Graeme Sharpe estimated that the club winning the title will "cost the English sportsbooks" more than $14M in payouts. Sharpe: "The fairytale is definitely alive for punters [gamblers], and the bookies' nightmare is becoming a reality." He disclosed that William Hill has 25 bettors "who plunked down money on Leicester" when the team was 5,000/1. The sportsbook "has been trying to buy out gamblers ahead of the team's increasingly likely-looking clinching of the title." On Friday, William Hill offered $4,019 for each $1.42 bet on Leicester City, trying to lure those who had bet on the Foxes at 5,000/1 to make a deal. On Saturday, the offer rose to $4,121. And after Sunday's win, it became $4,659 per each $1.42 bet. If Leicester does win the Premier League, its beginning-of-the-season 5,000/1 odds "will be considered historic." Wynn Las Vegas Sports Book Dir John Avello said, "These types of odds are not offered in any other sport" (ESPN, 4/4).

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