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Bookies Lose £2 Million on European Cup

30 May 2005

UNITED KINGDOM – As reported by the UK Times: "Liverpool's European Cup success cost the bookmaking industry an estimated £2 million, but they were not too worried as it could have been much worse had Liverpool won after 90 minutes.

"The bookies had liabilities of up to four times the amount on that result and one representative of a leading firm told me that they would have been 'wiped out' had it happened. There was a sustained nationwide gamble on Liverpool throughout the day of the match, forcing Ladbrokes, for one, to trim their odds.

"There was even considerable money for them taken during half-time, when Armageddon seemed certain and the Scousers were available at in-running odds of 100-1. However, these bets also relied on a 90-minute result.

"The biggest losers were two punters at half-time who tried to buy money by placing £10,000 bets each on AC Milan at 1-100…"

 
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