Bookies stung for 1m pounds as Prince William announces engagement

London, Nov 17 (ANI): Reports are abuzz that bookies were stung for a whopping 1million pounds as pals of Prince William and Kate Middleton piled cash on bets they would get married next year.

The announcement of William's engagement to Middleton seems to have hit the bookies hard.

One bookmaker said the industry had been 'caught with our pants down'.

"We're delighted for the couple but we've shelled out a fortune," the Daily Star quoted David Williams of Ladbrokes, who were offering 5-1 that the announcement would come this month, as saying.

Ladbrokes are offering 10-1 for a May wedding, 8-1 for June, and evens for a July bash. (ANI)