Bookmakers on edge as fans bet millions on an England victory in the Euro 2020 final
Shares in Britain’s biggest bookmakers went on a rollercoaster ride yesterday as they geared up for the Euro 2020 final.
Tomorrow’s England v Italy clash is expected to be the biggest sports betting event ever.
Ladbrokes and Coral-owner Entain and Paddy Power parent group Flutter Entertainment were among the stock market’s early risers as bets flooded in yesterday – but Flutter fell away as the day wore on.
On target: England captain Harry Kane is in the running to win the Golden Boot – given to the tournament’s highest scorer – having been a 50-1 outsider earlier in the competition
Although bookies are benefiting from the surge in business, an England victory, or a Harry Kane goal, could be costly given the volume of bets being placed.
The England captain is in the running to win the Golden Boot – given to the tournament’s highest scorer – having been a 50-1 outsider earlier in the competition.
If he becomes the top scorer betting companies could rack up multi-million-pound losses.
They could also face bruising payouts if England win. Entain said this week that punters in participating countries would place bets topping £250million – more than the amount bet on the World Cup.
But 888 warned that the boom in online betting during Covid could be about to end as the final lockdown restrictions unwind and people put away their phones and laptops.
Entain’s shares rose 2.7 per cent, or 49.5p, to 1870, while 888 climbed 0.6 per cent, or 2.2p, to 379.8p.
Rank rose 1.4 per cent, or 2.4p, to 175p, but Flutter fell 0.2 per cent, or 30p, to 12905p.
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