Leicester City: Former Economist editor set to miss out on £100,000 after forgetting to place annual bet on Foxes to win the Premier League

Joe Hall
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Leicester City v Queens Park Rangers - Premier League
Leicester City fans have had little to moan about this season (Source: Getty)

For 20 years, former Economist editor and current boss of Bloomberg News John Micklethwait placed a throwaway £20 bet on Leicester to win the league at the beginning of every season.

Leicester are just one win away from winning the Premier League but unfortunately for Micklethwait, last summer was also the first time in two decades he forgot to make his annual punt as he was preoccupied with a move to New York.

Read more: Claudio Ranieri will receive huge seven-figure bonus for winning the Premier League

After years of hopeless bets, the 53-year-old admitted he first considered his oversight this summer as £20 saved.

Now it looks more like a small fortune lost with pre-season odds of 5000/1 on Leicester to win the league paying out £100,000 on a £20 bet.

"For around 20 years, every August I have bet £20 on Leicester City to win their league," wrote Micklethwait in a Bloomberg View column.

"The wall of my office at The Economist in London was festooned with the resulting betting stubs, to be mocked by my colleagues who followed more successful teams.

"Last summer, having moved to New York to work for Bloomberg, I missed making my routine bet; the odds being offered on Leicester winning the title were 5,000-1, but, somewhere deep down, I assumed it was £20 saved."

In March a Leicester fan who made the same bet got cold feet over his team's title chances and cashed out — making a cool £29,000 profit in the process.

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