Tel-tale signs as bookies back off Venables

TWO of Ireland’s leading bookmaking firms have suspended betting on Ireland’s new soccer manager after a flood of money was wagered yesterday on Terry Venables.

Paddy Power and Ladbrokes suspended betting last night - Cashmans also did so briefly - following a string of weighty bets on the former England manager.

‘El Tel’ - so nicknamed after his stint with Barcelona in the mid 1980’s - was considered an 11/2 shot by Ladbrokes at the start of the day’s trading.

But after laying a number of wagers at that price and then at 7/2, the firm pulled down the market.

“It may be a red herring, but weight of money would suggest it’s a done deal,” said spokesman Robin Hutchison.

“Next manager markets are volatile at the best of times and a few quid can change the betting quite quickly.

“But we tried to stay on the right side of this one as quickly as possible - and may just have failed.”

Paddy Power also slashed Venables’ odds of becoming the next Ireland manager from 13/2 to 1/4, making him by far their best backed candidate.

The company said that while many managers have been supported so far, this plunge is the most significant. They saw a steady flow of support for Venables in the Cork area, but within an hour the rumour had spread nationwide.

Cashmans suspended betting after laying bets (among others) of e250 at 12/1, and e200 at 8/1 (twice), in the space of five minutes in three of their Cork shops yesterday afternoon.

“We suspended betting after a flurry of activity,” said spokesman John Keegan.

“Suddenly, everybody wanted to get on him so after laying a few interesting bets we took down the market to see if anything official was forthcoming. When it wasn’t we started betting again and now go 4/5 Venables to be the next Ireland manager.”

Venables is no stranger to international management. His CV includes time managing both England & Australia along with Spurs, Middlesbrough and Leeds.

Paddy Power said: “We cut El Tel’s odds from 13/2 to 4/1 in an attempt to stem the tide. There were no odds short enough to put the punters off, even the 1/2 was snapped up and now he’s 1/4!”