Home » Sporting Index losing NZ$59 000 to Bad Maths
Sporting Index losing NZ$59 000 to Bad Maths
Recently updated on July 16th, 2018
In the run-up to Sunday’s final, some UK bookmakers were a little too optimistic about goals. One bookie, Sporting Index, overestimated the amount of disallowed goals during the FIFA World Cup. This estimation was eventually exploited by one player, and the sportsbook is now liable for US$40 000(NZ$59 000) in losses. This ‘bad call’ was an over/under line of 22.5, which never budged despite only one disallowed goal in the first 20 games.
This gambler was in line to win US$2600 (NZ$3837) for every non-goal on the 22.5 line. In 60 games, this has happened only seven times. This means that the bettor will earn up to US$40 000 (NZ$59 000) after the World Cup final. Since the novelty bet was not changed by Sporting Index, they are now expected to pay out.
Sporting Index Suffers Minor Loss
During the 2018 FIFA World Cup, a few UK bookmakers were facing some big payouts for betting against England. Sporting Index was just one of these sportsbooks to offer high odds against the three lions. However, when they made it through to the semi-finals, bookies quickly changed the odds. Sadly, England lost to Croatia in the semi-finals and lost the chance at their first World Cup win since 1966. They also lost third place to Belgium on Saturday.
Their loss, of course, is great news for sportsbooks. Even with odds of four to one, payouts could have been high with so many bets on England. At the start of the finals, it seemed like they would go all the way and bookmakers were set to lose millions. Luckily, this year’s unpredictable tournament ended with a good, clean match.
France Takes Home Trophy
On Sunday, France beat Croatia after the former defied the odds against them. This was the first time in 20 years that the Croatian football team made it through to the final. France’s win was also the first in 20 years. So, the 2018 World Cup has definitely been one for the history books. Aside from the finals, it was also the first time the cup had been hosted on two continents. Russia also defied the odds for going through to the quarterfinals. Here’s hoping the 2022 FIFA World Cup in Qatar will live up to this year’s reputation.
Taralynn Engels is a seasoned casino news writer with a passion for keeping her readers up-to-date with the latest happenings in the gambling industry. With over five years of professional writing experience, Taralynn has developed a deep understanding of the casino industry and a knack for delivering engaging and informative content. Aside from her in-depth knowledge of the casino industry, Taralynn possesses excellent writing skills that allow her to craft captivating narratives that keep readers hooked until the last word. Her ability to simplify complex concepts and present them in an accessible manner guarantees that her articles are enjoyed by both seasoned casino enthusiasts and newcomers alike.
Recently updated on October 23rd, 2018Despite calls for banning third-party betting on lotteries, Australian bets are reportedly rising for the US MegaMillions. According to TheLotter.com, AU ticket sales have ‘sky-rocketed’, along with bets. Many punters have been using Lottoland and TheLotter.com to place their bets, probably for the last time. The jackpot for the American […]
Recently updated on July 7th, 2019The government’s clampdown on fixed-odds machines has led to a scheduled closure of about a quarter of betting shops in the UK. This move could see up to 3 000 out of 8 400 betting shops closing in the country, putting about 12 000 jobs at risk. William Hill, which […]
Recently updated on September 5th, 2019 In five years, the New Zealand video game industry could be worth a billion dollars. The interactive gaming industry is said to be the future of New Zealand’s economy. A report identifying how video gaming could create jobs and export earning if the government was involved was recently released. […]
Recently updated on September 10th, 2019SkyCity Casino workers operating in the company’s New Zealand-based venues went on strike for a second consecutive weekend between 7 and 8 September. The workers, who have been looking to get a raise in pay rates for weekend and night work, undertook action after their union (Unite) and SkyCity representatives […]
Recently updated on April 1st, 2019A Singaporean high-roller is causing the Star Gold Coast Casino in Queensland a very expensive headache. The player is refusing to pay back the $43.3 million he lost during a week-long baccarat session. The casino had flown him in on its private jet, hoping that he would make them some […]