With the country reaching fever pitch as England’s chances of a World Cup win grow ever closer, bookmakers may be starting to get a little nervous.
After a strong start to the tournament, and a win on penalties against Columbia leaving many an English nail bitten, the cost of England raising the World Cup could see the bookmaking industry hand out over £100m.
Currently the Three Lions are at 6/1 to lift football’s most revered trophy, but some devout fans have been betting on an England win since February 2015 – with some bookmakers offering 25/1.
A source at one of the UK’s biggest bookmakers told Oddschecker that the outright liability of an English success story is now higher than Brazil.
Oddschecker’s Finance Director Nick Barnett said: “Current defensive pricing is not putting the England faithful off and when coupled with the longer-term accumulation of ‘England-to-win’ liabilities, has left the industry staring at a 9 figure loss.
“That does however pale in comparison to the £2bn cost to the UK economy of any potential bank holiday if the England squad return as heroes – it turns out you can put a price on happiness…”
Oddschecker spokesperson George Elek said: “Despite the optimism surrounding the England team only really rearing its head in the public consciousness in the last few weeks, there has been a disproportionate amount of bets places on them to win the World Cup compared to their price.
“This may have caused alarming liabilities for the bookmakers. Although the days of England’s price shortening purely out of blind optimism are likely over with odds moving alongside liquid exchange market.”