Leicester City clinched the Premier League title on Monday when Tottenham Hotspur drew 2-2 with Chelsea.
The Foxes opened the season in August with 5,000-to-1 odds to win the title, making it the biggest sports betting underdog to ever win an event, according to pregame.com.
The 1999 Rams were 300-to-1. Elvis Presley being found alive is also 5,000-to-1.
ESPN’s Darren Rovell tweeted yesterday that the three largest bookmakers in England lost $11.4 million on the upset.
Some more perspective: The Foxes are just the sixth team to win the Premier League since England’s top league was rebranded before the 1992-93 season.
In mid-April last year, Leicester City was in the relegation zone in England. For those who don’t know what relegation is, in most of the world’s soccer leagues the teams that finish in the bottom of the standings are sent down to the next lowest league. It would be like this year’s Braves possibly being sent to Class AAA.
The Foxes fought their way out of relegation to stay in the Premier League for the 2015-16 season.
Some more perspective: The 20 teams in the Premier League spent $1 billion on players over the summer and winter transfer windows. Leicester City spent approximately $40 million in the summer window.
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