arguably the biggest upset in the history of professional sports. The pre-season odds posted
for LCFC to win the EPL were 5,000: 1, worse than finding Elvis alive. In our model, they win
just once per 70,000 simulations; thus, bettors could expect a return of just 0.071 of the stake
when betting on Leicester City. This is similar to the expected return of betting on all of the
long-shots in our simulations; however, the expected value of bets on favorites averages …