When Betting On the Underdog Pays Out
Sports betting is a strange animal that means different things to different punters. Some Kiwis enjoy the excitement of betting on a favourite team, while for others, betting on a sure thing is the only way to go.
There are yet other punters, and they cannot resist the prospect of backing the underdog – the team least likely to win. Long odds or steep odds mean the chances are not good. However, if the underdog manages to pull it off, those odds could pay a king’s ransom.
Ashes to Ashes: England Beats 500:1
The 51st Ashes, held in 1981, was a Test series that left many punters staring at their bet slips in disbelief. England’s performance on the cricket pitch had been dismal enough to see their odds drop to 500 to 1.
However, the team rallied, and proceeded to beat Australia in three following Tests. That, along with two draws, made England the victors. Punters who had taken the odds made a tidy profit, with one British bookmaker alone having paid out £40 000 on bets that totalled £25 000.
It happened that two of the winners were cricket players. On the Australian team. The story, broken by a tabloid newspaper, claimed two star players won more than £7000 when they bet their own team would lose the series. One of the players, Dennis Lillee, eventually admitted to being one of those who placed bets.
A Winning Eight-Horse Accumulator
Among the longest odds to ever have paid out amounted to 2 800 000 to 1 on a bet of a few cents. UK-based punter Fred Craggs placed a 50p eight-horse accumulator bet in 2008.
The 60-year-old that eight horses would win their respective races. Each horse did win, and Craggs’ bet paid out winnings that were capped at £1 million. The bookmaker also submitted the impressive bet for consideration for inclusion as a Guinness World Record.
Guinness World Records has recognised other impressive betting moments, such as on real money online slots casinos offer. One of those slots earned a spot in the record book for a jackpot paid out in 2013.
Leicester City Given Premiership, Beat 5000:1 Odds
The longest odds that have paid out millions to punters were the 5000 to 1 odds on Leicester City to win the English Premiership League championship title in 2016. The odds were unveiled at the beginning of the season, and were something of a running joke.
Many punters and fans no doubt thought it was all very funny until the moment Tottenham drew 2-2 with Chelsea, and handed Leicester the title. A Brit who took the odds and bet £20 on the Foxes was paid out a tidy £100 000.
The Proof of the Pudding
This is a handful of many examples where the underdog has become the top dog, and the steepest odds proved the best choice. The proof of the pudding is in the tasting, and the some punters who took the long odds have loosened their belts and are now enjoying a well-fed afternoon nap.