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Bookies suffer Olympic losses

August 12th, 2012

The success of Team GB Olympians at London 2012 has proved costly for bookmakers, with many reporting big losses on the likes of Jessica Ennis (5/6 with Stan James to win the Heptathlon before the games) and Mo Farah (19/10 to win the 5000m and 6/4 to win the 10,000m before the games - both with Bet365).

Cycling and rowing also bought success for punters, with Team GB collecting 9 medals at both Eton Dorney and in the Olympic Park Velodrome - 11 of those 18 being gold. The cycling was completely dominated by the home team, who won 7 golds and only failed to reach the podium in 1 of 10 events. That was the team sprint, where Victoria Pendleton and Jess Varnish were disqualified.

Team GB gold medals came from 13 different sports, including canoe slalom, triathlon, road cycling and taekwondo as the bookies began to regret offering odds on all events. The final haul of 29 golds comfortably exceeded the line of 22.5 set by most bookmakers, rewarding the majority of patriotic punters who backed overs expecting the hosts to shine.

The triple gold won by Usain Bolt also proved expensive for the layers, with the Jamaican available at 9/4 with BetVictor for another hat-trick of gold medals before the games.

888sport were hit after offering stand-out odds of 4/1 on Greg Rutherford for the long-jump, but their odds-compilers will at least have been relieved to see Asafa Powell limp over the line in the 100m final as they also offered the best odds of 11/4 that all 8 finalists would run below 10 seconds - Richard Thompson finishing 7th in a time on 9:98 seconds (Powell had recorded a time of 9:94 in his semi-final).

Coral are already quoting odds on the 2016 Olympics in Rio, offering 7/1 on Usain Bolt repeating his 100m and 200m double gold success and 16/1 on Mo Farah repeating his 5000 and 10,000 double. They also offer odds of 6/4 on Team GB winning 20 or more golds in Brazil and the same price on them winning 50 or more medals (compared to the total of 65 won in London).

Current Bookmaker Offers and Refunds

  • Goalscorer 2nd Chance: Refund of losing First Goalscorer bets, as a free bet up to £50, if your player scores the second goal - with William Hill

  • Bore Draw: Refund of ALL losing Correct Score, Half-Time/Full-Time and Scorecast bets on ANY football match that finishes 0-0 - with Bet365

  • Channel 4/1 offer - Back a winner at 4/1 or more in a race televised live on Channel 4 and get a free bet of the same stake on the next televised race. If your free bet also wins at odds of 4/1 or more, you also qualify for a free bet on the next televised race and so on - with Bet365

  • Premier League Late Loser Insurance: Refund of losing Correct Score & Scorecast bets, up to £25, if the bet is winning at the 85th minute - with Coral

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