Favourite success costs bookmakers over £100m

Favourite success costs bookmakers over £100m

Monday, January 9, 2017 Posted by Andy McCarron
Festive period an expensive one for betting firms

Over the recent Christmas period, UK bookmakers as a whole are reported to have lost over £100 million due to many popular bets coming through and punters winning big, with some bookmakers losing more than £10 million individually. In fact just today William Hill revealed its liability was a whopping £20m.

At the root of this was the vast number of favourites who won their matches in the Premier League. Leicester City beat Manchester City 4-2, Swansea City beat Sunderland 3-0 and Southampton beat Bournemouth 3-1. Arsenal beat West Bromwich 1-0, Chelsea beat Bournemouth 3-0, Manchester United beat Sunderland 3-1, Manchester City beat Hull 3-1 and Liverpool beat Stoke 4-1.

John Pentin, editor in chief of affiliate site www.BettingTips4You.com, told TotallyGaming.com: “The top six or seven football teams that have made huge investments this past year have helped to increase the gap between the top and bottom teams within the Premier League. Therefore, it’s getting easier to win with the best of the best teams, as they’re just doing that good, and there are much higher winning opportunities on both single bets and accumulators.”

But it wasn’t just the football that bookmakers saw punters winning big on; horse racing was another sport that featured heavily in December; Call Me Vic came first with 7/1 odds, as did Vieux Lion Range with 8/1F odds.

On Boxing Day, one punter turned a £1 bet on a 21-team accumulator into £223,000 – cashing out after 19 of his 21 accumulators were winning (fortunately for him, as four minutes later one of his teams lost and he’d have walked away with nothing). Throughout December, another punter won big from two accumulators; turning a £3 15-team accumulator into £40,519.98 and a further £2 13-team accumulator into £9,724.79 – both won thanks to Arsenal winning against West Brom in the 86th minute.

Whilst great for those placing bets, it was, quite possibly, the worst month for years that bookmakers have experienced.

Ethan Rowe, editor in chief of www.BiggestFreeBets.com, said that the impact of the results will take bookmakers a few weeks to get over: “Punters didn’t just benefit from great tips doing the rounds, they were also able to benefit from greatly enhanced odds during the Christmas period, which has not only increased the impact on bookmakers but also increased the value for those placing bets.

“For the next few weeks, maybe even months, we might see that the odds are slightly lower than they would normally be; meaning that those placing bets won’t have the option to win as big as they might usually do. But this shouldn’t last long – the market took a hit, and a big one at that, but it won’t take them long to recover at all. There are typically more bets that fail than win, whether to be expected or not, and no doubt the market is already on its way back up.”

With clubs investing huge sums of money into their teams, whether that’s on ensuring they have the very best players available to them, or even the very best of facilities, it’s anticipated that this won’t be the last time the bookmakers see a period of many large popular bets coming through, with punters winning big. That being said, there’s always room for the smaller and lower budget teams to make their way up through the ranks and catch some by surprise.

Totally Gaming says: Last year’s Premier League results were somewhat of an outlier, with the fancied clubs doing very poorly and Leicester City crowned unlikely champions. Before that bookmakers were living in weekly fear that all the big fancied football teams would sweep the board and activate people’s accumulators. With six teams performing at the top of the league, the vagaries of the fixture list will continue to throw up potentially expensive weekends such as this a few more times before the end of the season.

American Football

Nevada breaks sports betting record in 2018


Rhode Island sports handle hits $13m in first full month


Caesars launches SG-powered sportsbook in Pennsylvania

New York

NY Gaming Commission sets out sports betting regulations

Gaming Products & Services Directory

The essential directory for the gaming industry