Donald Trump has not only beaten Hillary Clinton. Mr.Trump beat gambling operators as well.
Business tycoon Donald Trump just won the U.S. Presidential Elections on Wednesday morning. Mr.Trump has claimed the presidency over the expense of Hillary Clinton. The Donald has also overwhelmed European bookies such as Paddy Power Betfair, Ladbrokes, and William Hill.
Payback Time for Donald Trump Supporters
Bookies have felt the Trump effect as it paid millions to bettors who wagered for the casino mogul to win. Bookmarkers have lost millions from their biggest political betting event in history. Bettors have wagered more than £20 million ($25 million) on the 2016 U.S. Presidential Election results. Bookies are now set to pay out more than the mentioned turnover. This is the payback that bookies didn’t expect as they only gave Donald Trump 20% of winning.
“It’s been a difficult year for us. We didn’t get Brexit right either and now this one. I think Trump’s celebrity factor brought political betting to a whole new audience. We had people betting on this that would never have touched a general election bet or a Brexit bet or anything like that.” Féilim Mac An Iomaire, spokesperson for bookmaker Paddy Power said.
Clinton Predictions Felt the Brexit Effect
Paddy Power Betfair has had high hopes of Mrs. Clinton to assume the U.S. presidency. The Irish bookie was confident that it has paid out over $1 million to Clinton bettors in October. The great loss comes after Donald Trump wins the 2016 U.S. Presidential Elections. Paddy Power Betfair will be shelling out over $4.5 million to Donald Trump supporters.
“We’re in the business of making predictions and decided to put our neck on the line by paying out early on Hillary Clinton, but boy did we get it wrong. We’ve been well and truly thumped by Trump with his victory leaving us with the biggest political payout in the company’s history and some very, very expensive egg on our faces,” said An Iomaire.
Paddy Power Betfair has decreased the odds for a Clinton win to 1/5 or 83% while Donald Trump was only given a 20% probability of victory. The overall payout of $5.5 million has overwhelmed the $5 million wagered on U.S. election bets.
Trump Beats William Hill and Ladbrokes as Well
Popular betting operators William Hill and Ladbrokes have also felt the Trump effect as both operators post losses. William Hill’s Graham Sharpe has announced that the company has made a high six-figure loss on the election even if the volume has reached £5 million. A Cornish castle lord has wagered £100,000 after staking 30 bets on the Trump over the past months.