Gambling Site: 'Money Has Poured In' For Donald Trump ImpeachmentLatest Russia Scandals Put Former Casino Owner At Risk |
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The state spectacle in the U.S. has been great for overseas online gambling companies, with the latest wave of political scandals on Capitol Hill bringing the action on Trump’s presidency ending prematurely to new levels.
U.K. gambling site Ladbrokes said Wednesday in a press release that Trump is now “odds-on” to leave office before the end of his first term. The company slashed odds of Trump being impeached or resigning to 4/5 (55 percent). A $100 bet would net you $80.
An early Trump exit previously had been 11/10 on the platform.
“Political punters are wondering how many more scandals can Trump overcome," said Jessica Bridge of Ladbrokes. "And despite the short price on offer, money has poured in for the president to be impeached, leaving us with little option but to cut the odds.”
Some political commentators have drawn parallels between Watergate, which led to President Nixon’s demise, and Trump’s firing of the FBI Director during the middle of a probe into the administration’s ties to Russia.
“From a betting perspective, Donald Trump’s presidency has triggered a massive boom for these kinds of markets,” Ladbrokes said. “With Donald Trump, everything he does, it can be turned into speculation, and that can be turned into gambling.”
Irish bookmaker Paddy Power lists Trump impeachment at 2/1 and resignation at 15/8.
“Impeachment has been a hugely popular topic ever since Election Day — when it was 16/1, immediately after news of Trump’s victory emerged," Paddy Power told MarketWatch. “By the time of his inauguration, the price was at 10/1.”
“We’ve been betting on impeachment for all recent U.S. presidents but, even at the height of the Lewinsky scandal, Bill Clinton was only ever 6/1 to be impeached.”
An estimated $250 million was bet on the 2016 U.S. presidential election in the U.K.
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