UK-based sports spread betting specialist Sporting Index will have to cough up more than £30,000 ($39,735) after making a novelty World Cup offer blunder.
The Guardian reported that Sporting Index miscalculated the number of times the ball would cross the line during the World Cup without a goal ultimately being given when it offered a novelty bet called “Shocking Decision, Ref!”
Sporting Index initially thought that the magic number 22.5 was a safe estimate for the novelty bet, which was derived with the help of the tournament’s Video Assistant Referee (VAR) review system.
Things were going well in Sporting Bet until high-stakes gambler Simon Cawkwell came in like a man on a mission. The former city trader reportedly made a bet that was lower than Sporting Index numbers, thanks to the advice of Andrew Woolfson, co-founder of gambling software firm Be The House.