Bets on US presidential election reach a record high

Published on November 12, 2016 in Industry News

US presidential vote bettingIt has only been a few days since the shocking announcement of Donald Trump becoming the 45th President of the United States. Bookmakers are busy counting the cost of the win as millions of dollars were wagered on the US election results.
 

“Gamblers took a chance in hopes to cash in on the intense battle between Republican Donald Trump and Democrat Hillary Clinton.”
 

Their public spats and debates sparked a record amount of bets placed on the election.
 

Against all odds

In a shocking turn of events Hillary Clinton’s slight lead turned into a major loss and many punters who bet against expert opinion are reaping the rewards.

Those who bet on a Trump win are currently celebrating not just his win but theirs too. One UK gambler cashed out the biggest win of election night of £500,000 from his £200,000 bet with online exchange, Spreadex. 

William Hill had a £100,000 bet for Trump and also stated that they crossed the £4 million mark which is a first for a political event.

Irish bookie PaddyPower declared $4.5 million losses on the Trump win as they initially priced the Entrepreneur at 101 but later saw him catching up to Clinton on the polls. 

Most Australian bookmakers had Trump on $4.50 and Clinton on a “sure-fire” $1.22 odds-on favourite as the polls came to a close in the US.
 

Results are in

In order to win the White House, Trump had to get 270 electoral votes out of 538 across the US. The win of key swing state of Florida cleared Trump’s way to Washington and in a shocking turn of events Trump won Wisconsin and became the instant favourite in live-betting markets. 

Aussies were keen to take advantage of the situation and one punter managed to place a $30,000 at $1.18 to ensure a small win on the William Hill Australia betting site.
 

The future of gambling

Donald Trump is a well-known entrepreneur and a self-made billionaire. He is also the very first president who has never held public office and once owned a casino. The Trump Taj Mahal in Atlantic City was one of the biggest gambling establishments in the city. It was also reported that Trump tried to buy favours from key rival Jeb Bush, Governor of Florida at the time, in 2015 to get the go-ahead on building a casino in Florida.

With Trump for gambling and his leading party against it, it will be interesting to see what might happen to the online gambling industry, especially with a country hugely divided state by state on its legality.