Despite Manchester City’s track record of six out of the past seven Premier League titles and a continuous flow of talented players, they are still the favorites to win the league again. With odds of +120, the Sky Blues are leading the pack, closely followed by Arsenal at +180 and Liverpool at +700. However, the odds take a significant drop after these top three teams, with Chelsea and Manchester United tied at +2200.
The public’s confidence in Manchester City seems to be wavering, as they only hold 8% of the handle at ESPN BET. This uncertainty is reflected in the line movement, as their odds to win it all have dropped from -120 in mid-May to their current position. The pending financial regulation charges against the club are likely contributing to this shift in confidence, with a verdict expected by the end of the season.
Despite being the favorites to win the league, Manchester City is surprisingly also a hot topic in the relegation market. Bettors are anticipating a potential points reduction for the club, which could result in them being relegated. This has caused a surge in bets on Manchester City to be relegated, with odds of +1500. The club currently holds 27% of bets and 45% of the handle at ESPN BET.
If Manchester City were to be relegated due to a points reduction, relevant wagers in the relegation market would be graded as winners at most major sportsbooks. However, if the club is expelled from the league by the governing body before the season’s end, those wagers would be voided and refunded. This uncertainty has led to a shift in betting behavior, with many bettors hedging their bets on Manchester City’s future in the league.
The Premier League has proven to be a popular betting market in the United States, with top matches attracting more handle than most MLB games on a given day. ESPN BET’s head of sportsbook, Patrick Jay, highlighted the league’s popularity and the favorable viewing windows created by the time difference between Europe and the U.S. as key factors driving betting engagement.
The Premier League season is set to kick off with Manchester United facing Fulham and Manchester City defending their title against Chelsea. Despite the uncertainties surrounding Manchester City’s future in the league, the anticipation and excitement for the new season are palpable among fans and bettors alike.
Overall, the Premier League title race is shaping up to be an intriguing and unpredictable one, with Manchester City facing challenges both on and off the pitch. As the season unfolds, it will be interesting to see how the betting markets adjust to the club’s uncertain future and how bettors navigate the risks and opportunities presented by this unique situation.