Portsmouth had long been fancied by punters for the drop and even pre-season they were the most backed team on Paddy Power’s relegation book having been backed from 9/1 to just 3/1 before the season had even kicked off.
By the time of today's payout Avram Grant's team were just 1/50 for relegation with the hefty five figure payout the biggest win for punters on Paddy Power's relegation market.
Nearly 35% of Paddy Power's Premier League relegation bets this season were on the over-spending South Coast club.
With the club confirming they will enter into administration before the weekend, the nine point penalty would almost certainly doom the club who were already seven points adrift of safety at the bottom of the table.
Paddy Power said: "The bells have all but chimed for Pompey so punters shouldn't have to wait until May to collect their winnings. And with such a tight race on who might fill the other two places in the relegation race hopefully this will give punters a chance to have another relegation wager before the season is over."
Paddy Power Latest Relegation
8/13 Burnley
5/6 Hull
6/5 Wolves
9/4 Bolton
4/1 Wigan
7/1 West Ham
15/2 Sunderland
To Avoid Relegation
12/1 Portsmouth
6/5 Burnley
5/6 Hull
8/13 Wolves
2/7 Bolton
1/7 Wigan
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Source: DSG
