LONDON, July 10, 2013 /PRNewswire/ --
Bet Butler and rivals pay out millions as home favourite wins in straight sets
The UK's leading bet broker, Bet Butler has paid out tens of thousands of pounds to its customers after promising to refund all losing bets on the Wimbledon final if Andy Murray won. With most punters backing the favourite Djokovic to win, the total bill has run into millions for Bet Butler and many of its industry rivals who made the same pledge.
Although Murray had the hopes of a nation riding on his shoulders, it was reigning champion Djokovic who was odds on to retain his title, meaning that most bets were placed on him, even by people who were secretly rooting for Murray. This meant that bookies faced a double whammy of paying out on the longer odds of a Murray victory and having to refund all the bets placed on his Serbian challenger.
"The Prime Minister may be calling for Murray to be knighted, but it's unlikely the bookies will be share the sentiment after their drubbing on Sunday," said Dave Evans. "On the plus side, as a bet broker, Bet Butler only gets paid when people win, so we haven't lost as much as a traditional bookmaker and it was worth every penny to see a Brit win the title after 77 years."
The final cost to the industry has not yet been announced, but it's likely to run to at least £4 million, with Coral and Paddy Power just two of the bookmakers to have taken a hit. Now odds of 4/5 are also being offered on Murray being knighted in the 2014 New Year's Honours List, despite the fact that the last Brit to win Wimbledon, Virginia Wade in 1977, had to settle for a plain old OBE.
Mr Evans added: "We always say that the Brits love a loser. Well for once the home player actually won, but anyone who backed Djokovic will certainly be feeling the love when their refunds land in their betting accounts."
It's been a winning summer for the Brits so far and Bet Butler is celebrating with a special seasonal promotion, reducing the commission that customers pay on their winnings from 3% to 1% until August 11th. The special discounted rate will be charged across all markets for online customers only.
Bet Butler searches more than 60 leading bookmakers to bring you the best odds every time you bet. Visit http://www.betbutler.co.uk for the latest odds on your favourite sport.
Issued by Point Pleasant Communications
on behalf of Bet Butler
Share this article