While UK Bookies Mourn Trump’s Victory, Gamblers Celebrate
Which 2016 event do you think sent Britons massively out to wager on its outcome? Undeniably, both the Euro 2016 and EU referendum were hugely popular betting occasions. However, more wagers have been placed on the outcome of this year’s US presidential election than either of the two. Trump and Clinton were each backed by some serious cash but only those betting on the Republican will get to collect.
You might be impressed by the £37,000 a customer from Nottingham has placed on Trump coming in first. But actually both candidates have received votes of confidence in a form of six-figure wagers placed in their favour. Thanks to their cash-generating potential if not their politics.
Trump started as a no-hoper against the long-time favourite Clinton. Since US Election betting began, William Hill say 70% of all money staked has been for Clinton. However, 60% of individual bets have been backing Trump. One female client had the largest election bet ever of €550,000 riding on the Democratic candidate. Recent FBI investigation into Clinton’s use of a private email server and resulting findings were impacting the odds both ways.
As a result of the dynamic turnarounds, many British bookies have experienced their worst trading days ever. The one who probably suffers the most is an Irish bookmaker. Fully confident Hillary Clinton will be the one to enter White House, they decided to pay out early to customers having bet on the Democrat. During the period in which Donald Trump was receiving particularly negative press coverage, Paddy Power cashed out £800,000 predicting Clinton would win the elections. Perhaps they’ll manage to benefit from free advertising, having received huge media coverage thanks to their blunder. But Paddy Power are not the only ones summing up their losses at the moment. Trump’s unexpected triumph is said to have cost the UK booking industry tens of millions.
While industry is mourning the Republican’s victory, many Britons celebrate. One of those who’s probably buying the crowd pints of beer as we speak, is a London gambler whose £200,000 bet was to deliver a whooping £500,000 profit. Who says you have to be a politician to get rich by politics?