British Gambler Paid Out Nearly $900,000 On Donald Trump WagerVast Majority Of Late Bets Were On The Billionaire Businessman |
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A gambler in the United Kingdom netted more than $620,000 on Donald Trump’s victory over betting favorite Hillary Clinton.
According to a report from The Independent, an anonymous London bettor put $250,000 on Trump this week. The wager was just a small part of an estimated $250 million bet on the 2016 U.S. presidential election industrywide in the U.K. About $25 million came through traditional betting channels.
The U.K. is one of the oldest regulated sports betting markets in the world. Betting on the presidential race is illegal in America, which has an illicit sports gambling market of more than $140 billion thanks to the activity being legal in just a few states.
Leading U.K. betting sites had Clinton listed at 2/9 and Trump at 10/3 just hours before the results started to come in. Nine out of 10 last-minute bets reportedly were on Trump.
The $250,000 wager was placed online at Spreadex, and it was one of the largest of the entire U.S. election season. Leading up to the election, large Trump bets resulted in bookmakers shortening the odds. American polls gave Clinton as high as a 95-percent chance of winning.
In a highly publicized move, Irish bookmaker Paddy Power in October paid out $1 million on what it saw as an inevitable Clinton victory. That move backed fired in a big way.
Trump, a former Atlantic City casino owner, captured the key swing states of Florida, Pennsylvania and Ohio, but he lost the popular vote.
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