Tue, 11/03/2020 – 15:30
A British gambler has staked $5 million dollars on President Trump winning re-election in what is believed to be the largest ever political bet.
According to the Sun, the former banker used private bookmakers registered on the Caribbean island of Curacao and was able to secure odds of 37/20, meaning he will receive a $15 million payout if Trump is victorious.
Apparently, the high roller decided to place the gargantuan bet after a private consultation with “Trump camp insiders.”
“Word of this bet has done the rounds and we think it’s the biggest ever made on politics,” one industry source told the newspaper.
According to gambling comparison site OddsChecker, 71% of money wagered on the outcome of the election was in favor of Trump over four hours this morning, a figure that represents a “remarkable” swing according to the site’s head of marketing, Sam Eaton.
“The 2020 election is following a very similar betting pattern to the one we witnessed back in 2016. The closer we got to Election Day, the more money came for Donald Trump,” said Eaton.
It’s normal for part-time gamblers to make late bets on the underdog, which according to the polls is Trump, because they are guaranteed higher returns.
However, according to Paddy Power, the numbers are massive, with 93% of bets being placed on a Trump victory over the last 24 hours.
“Even at the eleventh hour, punters are continuing to back Trump at the odds on offer,” said Ladbrokes’ Jessica O’Reilly.
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Author: Tyler Durden