SBC News Voice of the Sports Betting Industry
UK bookmakers are in fear of a Grand National wipe-out if legendary jockey Tony (AP) McCoy wins his last Aintree Steeplechase ride this Saturday. William Hill and Ladbrokes have estimated that £150 million will be wagered on McCoy who rides race favourite Shutthefrontdoor who is currently priced at 7/1.
The popular jockey has been receiving early wagers from racing fans who would love to see the Ulster rider sign-off his legendary career with a Grand National win. McCoy has one previous Grand National victory riding race favourite Don’t Push It at Aintree 2010.
UK bookmakers will likely halve McCoys race odds to 7/2 in the build up to Saturdays race making Shutthefrontdoor the shortest-priced favourite since Red Rum in 1975
Alerting the media William Hill PR Manager Jon Ivan-Duke commented
“We are all poised for a big betting wave on Shutthefrontdoor, It would be tens of millions paid out if he were to win. I think it could be potentially the worst result of the year for bookmakers in terms of the payout.
Ladbrokes PR Officer Alex Donohue backed the comments stating “The total cost for the industry if he wins — £30 million — would be the worst Grand National result ever,”
UK bookmakers will look for a reversal of their horse racing fortunes, having taken heavy losses during this year’s Cheltenham Festivals, which saw bookmakers hit by a run of victories for jockey Ruby Walsh and Willie Mullins stables.
Bookmaker William Hill gave further insight into Saturday race, stating that it expected to take five million bets on the race and turn over 30 million pounds on Saturday. Some 10,000 bets a minute will be placed on online and mobile platforms alone.
