Betfred believes – Bookmaker paying out on Leicester title winning bets

fred-done-is-the-road-king
Fred Done, Betfred (Image courtesy of Calvin Ayre)

Betfred Co-Founder Fred Done has paid out more than £1 million to 8,000 punters who backed Leicester City to win the Premier League.

Of these one of the happiest has to be a punter from Warwickshire who is now £45,000 richer having staked £30 on the Foxes to win the league at odds of 1500-1.

Leicester City’s 1-0 win over Southampton on Sunday left them seven points clear at the top and with only six games remaining this evidently prompted the decision by Betfred.

 Done explained the decision: “The Southampton result was a very significant win and Leicester have impressed me all season. I have a number of punters who incredibly backed the Foxes for fivers and tenners at very fancy prices and it will cost me a million pounds.”

He added: “I want those punters to get their dough now. I am delighted because Leicester have been an absolute breath of fresh air this season.”

Leigh Herbert is another Foxes fan who must be quite pleased he bet with his heart and not his head early on this campaign. The 39 year old originally had a £5 bet at 5000-1 but has cashed in £2 of his bet giving him £5,654. He still has the balance of £3 at 5000-1.

Herbert said: “I am a big Leicester fan and I strongly believe they will go on to win the Premier League. But my fianceé Kerry has made me acknowledge that sometimes you have to make decisions with both your head and your heart. I still have £15,000 to come if they win the league and will be watching this go down to the wire.”

He continued: “I have banked the £5,600 so that means I can enjoy the rest of the title run in. Each game was torture week by week. Instead of it getting better it got worse. If or when they win the title then it might go towards a deposit on a house for myself and Kerry.”

 

Betfred doesn’t have the best history with early Premier League title payouts. It was the first bookmaker to pay out early in 1998 on Manchester United, only for Arsenal to go on and win the title. The bookmaker also paid out early on Man United in 2012, only for them to slip up once again with Man City winning the title on goal difference.

Done said: “I’ve been wrong before, but this time I can’t see Spurs or Arsenal catching Claudio Ranieri’s men.”

It has been estimated that collectively bookmakers will shell out over $14m (9.8m) in payouts should Leicester hold their nerve and claim a historic title win.

(This story first appeared on Leicester Mercury)

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