Some punters got odds of 150/1 for 'Killing In The Name' to top charts

Rage Against The Machine’s Christmas Number One victory over Joe McElderry has cost the betting industry over £1 million in payouts.

A spokesperson for Coral told the Daily Telegraph the figure after ‘Killing In The Name’ originally opened with odds of with odds of 150/1 to beat X Factor winner McElderry‘s ‘The Climb’.

“It’s the biggest Christmas shock of all time,” Gary Burton of Coral explained, “and although it has cost the industry over £1 million, it at least now keeps the interest going, after The X Factor dominance almost killed off the festive chart betting forever.”

Ladbrokes spokesperson Nick Weinberg similarly admitted: “We simply didn’t see it coming.”

Simon Cowell has offered Jon and Tracy Morter, who were behind the Facebook campaign to get Rage Against The Machine to the top spot, a job at his record label since the win, while Rage Against The Machine have confirmed they will play a free UK gig next year to commemorate their victory.

Blog – Rage Against The Machine’s chart triumph is a victory for good music over bad

In Pictures – how Rage Against The Machine topped the charts

Blog – Rage Against The Machine Vs The X Factor – The 2009 Christmas Number One