Bookmakers Lose Out when World Cup Favorites Win

July 1st, 2006 | by: WC Bob | View Comments

While the tournament organizers and many fans are pleased that so many favorites have advanced this far in the World Cup, one group that would like to have seen a few more upsets are the bookmakers. With an unprecedented amount of money being bet on this World Cup, the gambling houses are only making a minor killing instead of a major killing because of the number of games won by the favored teams.

“It’s fair to say you’ve had 56 matches played in the World Cup and 39 of them have been won by favourites,” David Harding, Chief Executive of William Hill said before yesterday’s quarterfinals. “So you would expect the bookmakers probably aren’t doing quite as well at the moment as we have in past World Cups.”

All of that could change in the next week, especially in the UK where a lot of money has been put on England lifting the World Cup trophy on July 9. If that doesn’t happen, and if David Beckham doesn’t throw up again and Peter Crouch doesn’t robot dance, the bookmakers will be laughing to the bank. Of course, if Beckham does blow chunks and Crouch does robot dance, most of us will be laughing too.