Leicester City’s unlikely title challenge has inspired the nation in this most incredible of Premier League seasons. One of the many sub plots that has emerged involves the small number of Leicester fans who actually bet on their team to win the league at the start of the season. Most bookmakers were offering odds of 5000/1 on Leicester to be champions. Now that the finishing line is in sight, they are odds on favourites.
One of the features that many online bookies offer these days is the ability to cash in your bet early. And that has left those lucky enough to have backed their team at such outrageous odds with a dilemma. Do they let their bet ride until the end of the season, and risk ending up with nothing if Leicester falter? Or do they cash out now, take a smaller profit, and run?
It’s a tricky one. What would you do?
These stories started to surface as far back as February, when the Independent reported that carpenter Leigh Herbert turned down a cash out offer of over £3000 from William Hill, preferring to let his £5 bet run longer.
As Leicester were still top in March, another punter from Warwickshire decided that he would cash in his bet, and pocketed £72,000. His £50 stake would have netted him £250,000 if he’d let it run, but he stated that he’d rather take the guaranteed win and not be greedy.
At around the same time, Leicester fan John Pryke did cash out for £29,000. His £20 bet would have made him £100k if he’d let it run, but he said that the bet was ruining the games for him. He preferred to concentrate on the football without the financial spectre hanging over his head as well.
A week later, James Weller rejected Ladbrokes cash out offer of £25,000. With eight games left at the time, Weller decided he was confident that Leicester would go on to win the title and he would prefer to hold out for the full winnings.
Leicester fans – did you back your team? And if you did, are you tempted to cash out? It’s an interesting topic so we’d love to hear your thoughts!