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Betway £1 million better off for FA Cup upset while Wigan spare industry from an eight-figure blowout
Tuesday 20th February, 2018 – Betway are breathing a huge sigh of relief thanks to Will Grigg’s 79th minute strike for League One Wigan that sunk Manchester City’s hopes of a historic quadruple on Monday night.
Counting the cost of City losing the game, their chance of winning a sixth FA Cup and all bets placed on Pep Guardiola’s men landing the four major trophies, the ‘on-fire’ Northern Irishman has saved the leading online bookmaker in the region of £1 million.
Betway had a handful of punters who netted four and five figure sums from backing the Latics at 16/1, but the elimination of Man City from the FA Cup has put Betway well into the black on this occasion.
Across the UK bookmaking industry as a whole, Betway estimate that anywhere between £10m-£25m worth of liabilities have been written off.
Betway’s Alan Alger, said: “Man City had been well-backed for the quadruple since October, with some punters on at as big as 700/1 all the way down to 14/1. In late February, with still no sign of the sky blue train stopping, we were staring down the barrel of a heavy six-figure pay-out on the quadruple so last night’s result came as a great relief.
“As you’d expect, we took plenty of lumpy bets on City to overcome Wigan last night, and they were also very well-backed to win the FA Cup itself. Overall, we’ve been saved a loss in the region of £1 million, and many other firms will be feeling the same.
“The magic of the FA Cup has sprinkled a bit of stardust on the bookmaking industry, that’s for sure. I think it’s safe to say that the bookies have saved somewhere between £10m-£25m thanks to Will Grigg and Wigan Athletic.”
Betway – Football
FA Cup Outright:
Manchester City in 2017/18:
About the Betway Group
The Betway Group is a leading provider of first-class entertainment across sports betting, casino, bingo and poker. Launched in 2006, the company operates across a number of regulated online markets and holds licences in the UK, Malta, Italy, Denmark, Spain, Belgium, Germany and Ireland. Based in Malta and Guernsey, with support from London, Isle of Man, Stockholm and Cape Town, the Betway team comprises over 1,000 people.
Betway prides itself on providing its customers with a bespoke, fun and informed betting experience, supported by a safe and secure environment. Betway is a member of several prominent industry-related bodies, including ESSA, the Independent Betting Adjudication Service (IBAS) and the Remote Gambling Association (RGA), and is accredited by trusted international testing agency eCOGRA. It is also a partner of the Professional Players Federation (PPF) and is a donor to the Responsible Gambling Trust.
In addition to the flagship Betway brand, the Betway Group operates a number of other brands including Dream Bingo, Bingo on the Box, Spin Casino and the Hippodrome Online Casino. For more information about Betway’s various products and licensed brands, please visit www.betwaygroup.com.
Source: European Gaming Media and Events