Sports Betting Site Refunds Losing Bets On Manchester United
In an unusual move, the UK sports betting site BetFred has refunded all customers who placed bets on soccer team Manchester United to win the English Premier League this season. The team won the league last year, but with 8 games remaining in this terms they currently stand 7th and are 18 points from the top.
Some fans will forgive the relatively poor performance this season as their legendary manager Alex Ferguson retired last year after an incredibly successful 27 years in charge. His replacement, former Everton manager David Moyes, has struggled to fill his shoes but will need time to put his own stamp on the team.
However Fred Done, the owner of BetFred and big Manchester United fan – is not in a forgiving mood it seems. “These loyal fans never had a chance of winning with United”, he said. “This season the Reds have been useless, hopeless and meaningless.” The refunds will cost BetFred approximately £200,000 (around US $330,000).
The bookmaking firm has paid out early on Manchester United winning the title in previous years, when the team has been in commanding positions. This has not always proved to be a wise move though. In 1998 the company lost over £500,000 (US $825,000), having paid out when Manchester United were 12 points clear at the top only to see them overtaken by Arsenal. They lost similar amounts in 2012, paying out early again and this time seeing local rivals Manchester City win the title on the last day of the season.
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