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Sky Bet face £5m pay-out if Leicester win Premier League

Robert Huth (3rd L) of Leicester City celebrates
Image: Leicester celebrate Saturday's win at the Etihad Stadium

Twenty Sky Bet punters will win a combined £1m if Leicester can hold onto top spot in the Premier League and claim the title.

The online bookmaker is set to lose a combined £5m due to a string of long-odds bets placed by hopeful punters during the first four months of the season.

One punter placed a £40 bet on at odds of 5000/1, and stands to make £200,000 if the Foxes claim the title in May.

Sky Bet were still offering odds as big as 1000/1 at the start of November, but Leicester have now been cut to 7/4 favourites after Saturday's 3-1 win over Manchester City saw them open up a six-point lead over their title rivals.

Sandro Di Michele, the head of PR at Sky Bet, said: "It's great to see a Leicester City supporter having a speculative bet in August that is now a serious runner in February.

"If Claudio Ranieri's team did the unthinkable it would be a terrible result for us, as we currently stand to lose over £5m if Leicester win the league.

Claudio Ranieri Manager of Leicester City looks on
Image: Claudio Ranieri's side have opened up a six-point lead in the title race

"However it would be the greatest ever achievement in the history of the Premier League and who wouldn't want to see that?"

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Chloe, 21, stands to win £35,007 from a £7 bet if her hometown team are crowned champions.

"I backed Leicester after the first two games because my boyfriend, a season ticket holder for nine years, said that Leicester would win the league this season - so I decided to take a punt at 5000/1," she said.

Leicester City's Robert Huth (R) celebrates scoring
Image: Robert Huth (right) scored twice in Leicester win over Manchester City

"As each game passes and the results come in, I am getting more confident. If I were to win the money, I'd probably put it towards a deposit on a house with Luke and an amazing holiday."

Glossop punter Steve, 53, who put £20 on the Foxes, added: "I backed Leicester to win £40,000 on September 20, just seven matches into the new season.

Leicester City's midfielder Riyad Mahrez celebrates
Image: Riyad Mahrez also scored on Saturday at the Etihad

"The 2000/1 odds offered by Sky Bet at the time seemed far too generous for a team that was currently in the top six and playing with confidence.  I saw it as a value bet on an emerging team, with a capable manager noted for developing talent.

"Win or lose though, it has been a great bet to have, worth every penny for the entertainment value alone.  I have had an interest in almost every Premier League match every week and will continue to do so, as long as Leicester have a mathematical chance of taking the title."

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