Leicester City's title win costs English bookmakers £7.7M

The house doesn't always win.

Listed as 5000-1 underdogs to capture the Premier League crown heading into the 2015-16 campaign, Leicester City's improbable victory is going to cost English bookmakers £7.7 million ($11.4 million), according to Darren Rovell of ESPN.

The Foxes - who were nearly relegated from the top flight last season - were confirmed as champions when Tottenham, the only mathematical challenger for the title, was held to a 2-2 draw against Chelsea on Monday.

Related: Leicester completes Cinderella season, clinches historic Premier League title​

Rovell explains the fallout for a trio of bookmakers:

Ladbrokes

Ladbrokes officials said the 130-year-old betting company took 47 bets on the Foxes up until September, when the team's winning ways changed their odds to 1500-to-1. Ladbrokes will lose $6.6 million, and that's after settling 24 of the 47 bets at cheaper payouts.

William Hill

William Hill officials tallied their losses at around $3.2 million. They had only 25 bets at 5000-to-1 but still aggressively sought to make settlements until the last minute.

BetFred

In a promotional move, Fred Done, owner of BetFred, declared Leicester City bettors winners on April 3 and paid out $1.6 million in winnings.

As a result, at least one of the aforementioned books is making a move to avoid a repeat of this season's events.