Betway are on red alert with pre-tournament 500/1 rank outsiders Japan within touching distance of an Olympic medal in the rugby sevens.
Still feeling the pain from paying out mammoth odds on Premier League champions Leicester City in May, the bookmaker is reporting another potentially devastating blow less than three months later.
Betway soaked up a sprinkling of bets on the Japanese men’s rugby sevens team at 500/1 before the event kicked off on Tuesday. But, after monumental triumphs over Kenya, New Zealand and, last night, France, their price has collapsed to 18/1 and the firm are reporting major pay-outs if they go all the way.
Gold medal favourites Fiji stand in their way in the semi-final this evening.
Betway’s Alan Alger, said: “Since Japan beat a well-fancied New Zealand to reach the semi-finals, our traders haven’t stop trembling at the thought of another against the odds underdog story.
“We laid a bit of money on the Japanese at 500/1 before a rugby ball was kicked and the bets have continued to flow in with their price tumbling all the way down to 18/1. They stand as our worst result in the book.
“Japan winning the Olympic rugby sevens would be a remarkable story for players and punters, but painful for us bookies. It feels like Leicester, albeit on a smaller scale, all over again!”