News that Michael Schumacher’s sensational Formula One comeback has been abandoned has come as a blow to bookmaker Sky Bet, who had expected the German superstar’s participation in the European Grand Prix on August 23 to generate bumper turnover.

Sky Bet have refunded all European Grand Prix bets on Schumacher, who is unable to compete for Ferrari due to concerns over a neck injury. The seven-time world champion had been backed down to 9/1 (from 16/1) for victory in Valencia.

Sky Bet’s Dave Pilgrim said: "News that Michael Schumacher will not be returning to the Ferrari seat has come as a blow not only to fans, but also to bookmakers. Interest in our Michael Schumacher specials was massive throughout the past fortnight. Punters were really getting excited at the prospect of Lewis Hamilton getting to battle the most successful man in F1 history and we expected turnover on the European Grand Prix to double as a result."

Should Schumacher return to the sport later this season, Sky Bet make him 3/1 to win a Grand Prix.

Reports in Italy say that Ferrari Test driver Luca Badoer will now replace Felipe Massa in Valencia. Badoer was a 5/1 chance with Sky Bet to step in for Massa, behind fellow test driver Marc Gene (6/4). Sky Bet make Badoer 25/1 to win in Valencia.

Sky Bet Odds: European Grand Prix Winner
Hamilton, L 5/2
Vettel, S 11/4
Webber, M 7/2
Button, J 7/1
Schumacher, M 9/1
Raikkonen, K 11/1
Kovalainen, H 14/1
Rosberg, N 20/1
Badoer, L 25/1
Barrichello, R25/1
Trulli, J 40/1
Glock, T 66/1
Nakajima, K 125/1
Heidfeld, N 150/1
Kubica, R 150/1
Buemi, S 250/1
Fisichella, G 400/1
Sutil, A 400/1
Alguesuari, J 500/1
E/w terms: 1/5th of the odds, 1st 3 places

Schumacher win a GP in 2009 3/1
Note: Bets void if Schumacher does not race in 2009

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