Published on 3rd May 2016 by Becky Mosley

Leicester City’s Premier League win has been a fantastic reward for loyal fans who have kept the faith for many years. One man from Hampshire was rewarded more than most after channelling his faith into cold hard cash at the bookies. The lucky, or astute, fan scooped an unbelievable £7,500 after betting on Leicester to win.

£5 Bet For Leicester To Win

The Hampshire man bet a mere £5 that Leicester City would triumph against the odds, and is now celebrating in style. The bet was placed in the wake of Leicester’s success against Sunderland, in which they scored 4-2. This first game convinced the fan that Leicester were on to a winning streak, and propelled him to the betting shop to place the wager that was to generate a huge jackpot.Initially, the odds that Leicester would win the League were 5,000-1. This meant that the bookies believed that the likelihood of the Foxes winning the title was the same as the 2026 World Cup being held in Antarctica, or a confirmed sighting of the Loch Ness monster!

Underestimation

After the win against Sunderland, the odds of Leicester walking away with the prize were reduced to 1,500-1. This meant that the bookmakers considered a triumph a possibility, albeit a remote one that was still very unlikely. It has been suggested that this underestimation will come at a cost of between £10 million and £20 million in payouts.Ladbrokes confirmed that they would be paying out to 47 customers who had placed a wager on Leicester to win. At William Hill, there were 25 lucky betters who were grabbing the cash for the Premier League title.Jessica Bridge of Ladbrokes described the win as ‘a story for the romantics’, and confirmed that they were awarding their customers with ‘a huge smile’ alongside £3 million. Will you be the next winner?