Pensioner stands to win £60k if Leicester land the title

Andy MackenzieA pensioner stands to win more than £60,000 from spread bets placed on Leicester City at the start of the season, should the Foxes finish top come May.

The retired man, who lives in Yorkshire, backed Claudio Ranieri’s side on spread betting company Spreadex’s Premier League Index. The Index pays out on the top five placed clubs at the end of the season, which means the punter is guaranteed a pay-out so long as Leicester finish in the top 5.

Andy MacKenzie, Marketing Communications Manager for Spreadex, said: “This customer stands to win £61,728.05 if the Foxes win the Premier League.

“Even if Leicester don’t end up landing the title, the gentleman in question will win £40,628.05 for a second place finish, £19,528.05 for a third place finish, £8,978.05 for a fourth place finish and £3,703.05 for a fifth place final position.”

For the Spreadex Premier League Index, teams are given a spread at the start of the season based on the following: 60 points awarded to the team that ends top, 40 for the team that finishes second, 20 to the team that finishes third, 10 to the team that ends in fourth and 5 to the team that finishes fifth.

This season, the biggest losers have undoubtedly been Chelsea. With a pre-season Premier League index spread of 39 – 42, it’s now likely that they’ll finish outside the top 5 and make up at 0. That’s a loss of 42 times the stake for anyone that bought their Premier League Index price at 42 at the start of the season.

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