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Betting: bet365 refund £1.6 million as Spain and Denmark crash out of the World Cup on penalties

10:17 PM IST 02/07/18
Andres Iniesta Sergio Ramos Spain 2018
The online firm offer are offering Penalty Payback on the competition and it proved to be an expensive Sunday as La Roja were stunned by the hosts
Sunday saw the first two teams knocked out of the 2018 World Cup by the medium of a penalty shootout.

Spain and Denmark both saw their hopes of winning the competition extinguished and meant bet365's Penalty Payback concession triggered for the first time this summer.

Place a bet on the "To Win Outright" market for World Cup 2018. If any team you back is eliminated on penalties, bet365 will refund your losing bet. Full terms and conditions can be found here.

With stakes being refunded in cash, it's not a surprise that this is one of the most popular promotions around every major tournament on which it's been available.

In fact, bet365 have confirmed that Spain and Denmark's exits cost them a combined £1.6 million.

Russia sprung a real shock when they eliminated one of the favourites. The match was all square after 120 minutes and the hosts held their nerve from the spot and ensured their journey would continue until at least the quarter finals.

Croatia missed a spot kick in extra time against the Danes before triumphing in a shootout thanks to the brilliance of goalkeeper Danijel Subasic. Kasper Schemiechel put in a man of the match display but it wasn’t enough to keep his side in the competition.

bet365’s Steve Freeth said: “The Spain refund was a lot more than the Denmark one, but the offer has already shown its worth just a few games into the knockout stages.”

Penalty Payback will continue to be available to bet365 customers until the final on July 15 so even if you've not already got an outright winner position then this is a great promotion to consider before opening a new one.