{"id":38215,"date":"2016-08-08T17:26:36","date_gmt":"2016-08-09T00:26:36","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=38215"},"modified":"2016-08-08T17:28:40","modified_gmt":"2016-08-09T00:28:40","slug":"bookies-slash-premier-league-outsider-odds-leicester-city-headache","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/bookies-slash-premier-league-outsider-odds-leicester-city-headache\/","title":{"rendered":"Bookies Slash Premier League Outsider Odds after Leicester City Headache"},"content":{"rendered":"
\"
Leicester stars Riyad Mahrez and Jamie Vardy, have seen their\u00a0stock in the transfer market has go way up, but the odds of them repeating their feat this year have gone way, way down. (Image: 101greatgoals.com)<\/figcaption><\/figure>\n

<\/i><\/b><\/i>With the start of the English Premier League just days away, anyone looking for odds of 5001-1 on this one would be better off speculating on the chances of Elvis Presley turning up alive this year.<\/p>\n

Those were the odds that many bookmakers were famously offering on incumbent champions Leicester City<\/a> to win the EPL this time last year; the same as the aforementioned Elvis bet, but a proposition considered far less likely than the capture of the Loch Ness Monster, which was just 1000-1.<\/p>\n

Never the type to make the same mistake twice, the bookies will forgo their insanely long-odds outsider bets, which were pretty much designed as a marketing stunt to get as many bettors as possible to stake small amounts of cash for extremely unlikely outcomes, almost as a joke.<\/p>\n

But plucky Leicester\u2019s EPL win last year was no joke. The season before the last one, Leicester had been newly promoted to the EPL after a decade mired in the lower divisions. They spent the season battling relegation and survived by the skin of their teeth by somehow mustering a late run of wins.<\/p>\n

Leicester 28-1<\/b><\/h2>\n

The combined cost of Leicester\u2019s usual starting 11 was around $30 million; that\u2019s less than half of the sum Manchester City paid for one player<\/i> in the pre-season transfer window. Kevin de Bruyne cost over $76 million when he joined Manchester City from Wolfsburg a year ago.<\/p>\n

Needless to say Leicester\u2019s stock has gone up and their odds have gone down. Star player Riyad Mahrez, whom Leicester acquired for $796,900 in January 2014, would now be worth upwards of $30 million ($39 million) in the transfer market, while the odds of Leicester repeating last year\u2019s feat is now around 28-1.<\/p>\n

\n

William Hill<\/a> and Ladbrokes are offering just 1000-1 on newly promoted underdogs, like Burnley and Middlesborough, \u201cdoing a Leicester,\u201d hoping, at the same time, that the fans of those teams will be inspired to part with their cash on a completely hopeless proposition.<\/strong><\/p>\n<\/blockquote>\n

Major Misstep<\/b><\/h2>\n

The losses the bookies incurred from Leicester\u2019s win were no PR stunt, nor were they offset by the bettors who backed favorites. The greatest volume of soccer bets are on individual matches, or individual aspects of matches through live in-play betting. The handle for season-long speculation is, in fact, very low. The bookies make up for the lower margins on these bets by processing volume. \u00a0 \u00a0<\/span><\/p>\n

The fact is, 5000-1 for Leicester turned out to be a gross miscalculation, one that was not adequately offset, and one that will not be repeated.<\/p>\n

The one upside for the bookies is that this year season-long bets are up by 300 percent, which means that, providing Burnley and Middlesborough play like they\u2019re actually expected to, and Elvis and the Loch Ness Monster stay out of the picture, the bookies will have smiles on their faces again come mid-May,<\/p>\n","protected":false},"excerpt":{"rendered":"

With the start of the English Premier League just days away, anyone looking for odds of 5001-1 on this one would be better off speculating on the chances of Elvis Presley turning up alive this year. Those were the odds that many bookmakers were famously offering on incumbent champions Leicester City to win the EPL […]<\/p>\n","protected":false},"author":42,"featured_media":38218,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16],"tags":[],"acf":[],"yoast_head":"\nBookies Slash Premier League Outsider Odds after Leicester City Headache<\/title>\n<meta name=\"description\" content=\"English Premier League starts this weekend, but there will be no 5000-1 bets on Leicester or anyone else.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/bookies-slash-premier-league-outsider-odds-leicester-city-headache\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bookies Slash Premier League Outsider Odds after Leicester City Headache\" \/>\n<meta property=\"og:description\" content=\"English Premier League starts this weekend, but there will be no 5000-1 bets on Leicester or anyone else.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/bookies-slash-premier-league-outsider-odds-leicester-city-headache\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2016-08-09T00:26:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-08-09T00:28:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/08\/Riyad-Mahrez-Jamie-Vardy-Leicester-City-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"401\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/bookies-slash-premier-league-outsider-odds-leicester-city-headache\/\",\"url\":\"https:\/\/www.casino.org\/news\/bookies-slash-premier-league-outsider-odds-leicester-city-headache\/\",\"name\":\"Bookies Slash Premier League Outsider Odds after Leicester City Headache\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/bookies-slash-premier-league-outsider-odds-leicester-city-headache\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/bookies-slash-premier-league-outsider-odds-leicester-city-headache\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/08\/Riyad-Mahrez-Jamie-Vardy-Leicester-City-1.jpg\",\"datePublished\":\"2016-08-09T00:26:36+00:00\",\"dateModified\":\"2016-08-09T00:28:40+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"English Premier League starts this weekend, but there will be no 5000-1 bets on Leicester or anyone else.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/bookies-slash-premier-league-outsider-odds-leicester-city-headache\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/bookies-slash-premier-league-outsider-odds-leicester-city-headache\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/bookies-slash-premier-league-outsider-odds-leicester-city-headache\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/08\/Riyad-Mahrez-Jamie-Vardy-Leicester-City-1.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2016\/08\/Riyad-Mahrez-Jamie-Vardy-Leicester-City-1.jpg\",\"width\":640,\"height\":401,\"caption\":\"Leicester stars Riyad Mahrez and Jamie Vardy, whose stock in the transfer market has gone way up, but the odds of them repeating their feat this year have gone way, way down. 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