Bookies have suspended betting on Glasgow Rangers being relegated amidst widespread rumors the club may be in financial peril once again.
Rangers are currently third and a massive 23 points clear of bottom of the table Ross County. However, in 2012, The Rangers Football Club PLC entered liquidation. A new corporate identity was required and the club had to start from scratch at the fourth tier of Scottish league football.
They were promoted three times in four years to get back to the Scottish Premier League and were 5000/1 to be relegated yesterday. Those odds fell to 500/1 today and 94% of all bets on the ‘to finish bottom of the league’ markets have been waged on Rangers, with a surprising 64 individual bets in the last six hours alone.
Oddschecker spokesperson George Elek released the following statement earlier today:
Unusual betting patterns have been prevalent today regarding Rangers and finishing bottom of the Scottish Premiership. An unusual amount of bets were placed on the club to be relegated - despite sitting in a comfortable position in the league.
However, with rumours starting to circulate on social media, and bookmakers suspending markets, it is easy to see how the story is starting to gather pace.
We’ve seen an abnormally massive amount of bets on Rangers to be relegated today, with punters piling in on the massive price of 5000/1.
So much so, that bookmakers will no longer take bets on Murty’s team finishing bottom of the league – despite being a whopping 23 points off of it.
To call it a strange would be an understatement, and Oddschecker sources have confirmed the unusual activity in the betting for Rangers to be relegated, similar to the circumstances the club faced first time around with their financial struggles.