By Tony Winterburn • 08 November 2020 • 9:10
A mystery British punter has lost his $5 Million bet on Trump’s victory.
A British punter has lost $US5 million after betting on Donald Trump to defeat Joe Biden in the US presidential election. The former banker, who is based offshore, used a private bookie registered on the Caribbean island Curacao to place his risky gamble – believed to be the largest political punt ever made.
A friend of the ‘fluttering financier’ said he had consulted with “Trump camp insiders” before making the high-risk bet, that if successful, that could’ve netted him a return of almost $15 million at odds of 2.85. A betting industry source said: “Word of this bet has done the rounds and we think it‘s the biggest ever made on politics.”
Alex Kostin of Americangambler.com said: “As Joe Biden has been elected the 46th President of American, UK bookmakers breathe a sigh of relief; with 90% of the money backing Trump, the result marks one of the biggest windfalls for the bookies. With more than £600m wagered on the election, a Trump victory would have been a disastrous outcome for any bookmaker as they kept Trump’s odds relatively long throughout the entire campaign – despite the vast volume of bets backing Trump. But it paid off. The industry will be paying out around £180m, whereas if Trump had come out as the winner, they’d be looking to part with about £400m in payouts – if not evermore.”
Kostin added: “One punter that may be celebrating more than others this evening is the person who put down a £1m bet on Biden a few days before Election Day at the odds 8/15.”
Ladbrokes confirmed that three in every four bets went on the Republican during the final week of the campaign.
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