Shares in bookmakers climb as industry dodges £100m payout

 
Alys Key
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Shares in bookmakers rose in early trading today, at least in part due to England's defeat in last nights World Cup semi-final.

The national team's loss to Croatia is likely to have saved bookies millions on high odds bets staked on England winning the tournament.

Oddschecker estimated that the industry could lose £100m if football really did come home.

Read more: England World Cup dream ends – but new era is just beginning

So it is no surprise that investors breathed a sigh of relief this morning.

Shares in Paddy Power Betfair rose 2.5 per cent. GVC and William Hill both climbed around 1.5 per cent.

Online bookie 888 Holdings edged up 0.9 per cent.

But bookies could still be obliged to cough up if Harry Kane takes home the golden boot. Analysts at Barclays said that if Kane scores the most goals of the tournament, this would be negative for UK bookmakers.

Read more: World Cup 2018: How Croatia beat England to reach the final

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