Rage Against The Machine win set to cost bookies up to £1m
source: http://www.digitalspy.co.uk/music/news/a192290/bookies-to-lose-gbp1m-over-rage-no-1.html
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When Rage Against The Machine bagged Britain's first Christmas singles number one throughout downloads alone, hundreds of thousands of people rejoiced and the band announced they're going to put on a free gig in Britain to thank their fans.
Not everyone was happy though. Bookmakers, who largely had X Factor winner Joe McElderry as favourite, could lose huge amounts of money as a result of the surprise win.
'Killing In The Name' was originally given 100/1 two weeks ago. After the rush of recent publicity, the odds were slashed to 3/1.
"We discussed never taking bets on Christmas number ones again because X Factor seemed unbeatable," William Hill spokesman Rupert Adams said.
"It's hard to say right now how much we've lost. But the industry will definitely be paying out six figures. It could easily be over £1 million."
http://www.digitalspy.co.uk/music/news/a192290/bookies-to-lose-gbp1m-over-rage-n...
Not everyone was happy though. Bookmakers, who largely had X Factor winner Joe McElderry as favourite, could lose huge amounts of money as a result of the surprise win.
'Killing In The Name' was originally given 100/1 two weeks ago. After the rush of recent publicity, the odds were slashed to 3/1.
"We discussed never taking bets on Christmas number ones again because X Factor seemed unbeatable," William Hill spokesman Rupert Adams said.
"It's hard to say right now how much we've lost. But the industry will definitely be paying out six figures. It could easily be over £1 million."
http://www.digitalspy.co.uk/music/news/a192290/bookies-to-lose-gbp1m-over-rage-n...
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