English European Championship Loss A Nightmare For Bookmakers - 11-22-07

November 22 - Everything seemed to work out for England. Against all the odds, Israel handed them a lifeline when they beat Russia and England only needed the draw against Croatia. Well it wasn't to be. They lost, and bookmakers are feeling the pinch. Some of the bigger bookies like Sportingbet.com will have to foot huge refund bills.

Sportingbet.com ran a promotion before the match  and decided to offer all their customers full refunds on all single bets of up to £200 on the England v Croatia match if England somehow failed to qualify.

They probably regret this decision. Chris Graham, Sportsbook Promotions Manager said: "I'm afraid we failed to realize how bad England and Steve McClaren really were and have caught a massive cold here as we shovel back most of our turnover to our eager customers. Thanks to Croatia winning 3-2 we have refunded almost £100,000 on this promotion and the office is like a morgue as we all contemplate England not playing in Euro 2008 next summer and the nightmare scenario of this payout. Steve McClaren you have a lot to answer for."

And they are not alone, with many other big Bookmakers like Betfred.com are following suit. In fact, the whole process cost Fred Done, the owner, a lot more. He had offered one of his prized possessions to any Israel player who could score the winning goal against Guus Hiddink's Russian side. Israeli striker Omer Golan obliged, and Done immediately offered his £50,000 Mercedes. Unfortunately for the player the Israeli football authorities are playing hard ball, calling the gift a bribe. It remains to be seen if the bookmaker persists in handing over his car after England's spectacular failure.

There is a petition on the Betfred.com website which people can sign if they believe it's fair for the player to receive the car. Does anyone in England give a damn?

We review many of the leading soccer sportsbooks.

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