European bookmaker paid out $1M for Clinton betters before the election was over

Before you go, we thought you'd like these...
Before you go close icon

Many predicted a guaranteed win for Hillary Clinton to be the result of yesterday's election.

As it so often goes with elections and races and various events you can bet on, gamblers and businesses alike are willing to put major money on the line if they think the odds of winning big are high enough.

SEE ALSO: Starbucks CEO Howard Schultz 'stunned' by Trump's election

Perhaps no one thought the odds were higher than Irish bookmaker Paddy Power.

In fact, the company was so confident that it decided to pay out those who bet on Clinton early – a $1M early payout.

Paddy Power had predicted that the odds of Clinton winning were a whopping 86 percent, feeling confident in the decision to pay betting customers early.

Feilim Mac An Iomaire, spokesman for Paddy Power, said:

"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."

To add insult to injury, the bookmaker also has to pay out the nearly $4.5M in winnings to those who bet on Trump.

The company explained on its website:

"After Donald Trump was hit with scandal after scandal we were confident of Hillary's chances – prompting the whopping payout. But Clinton's campaign took a late hit thanks to the reopened FBI investigation, which resulted in a huge surge in bets for The Donald."

This will be the company's biggest payout in history, totaling nearly $5.5M.

RELATED: Hillary Clinton speaks for the first time after losing the presidency

12 PHOTOS
Hillary Clinton speaks for the first time after losing the presidency
See Gallery
Hillary Clinton speaks for the first time after losing the presidency
Hillary Clinton, former 2016 Democratic presidential nominee, arrives with Former U.S. President Bill Clinton to speak at the New Yorker Hotel in New York, U.S., on Wednesday, Nov. 9, 2016. Donald Trump, a Republican who has never held public office, defeated Clinton after a punishing campaign that exposed searing divides in the American public. Photographer: Andrew Harrer/Bloomberg via Getty Images
Hillary Clinton, former 2016 Democratic presidential nominee, arrives with Former U.S. President Bill Clinton to speak at the New Yorker Hotel in New York, U.S., on Wednesday, Nov. 9, 2016. Donald Trump, a Republican who has never held public office, defeated Clinton after a punishing campaign that exposed searing divides in the American public. Photographer: Andrew Harrer/Bloomberg via Getty Images
NEW YORK, NY - NOVEMBER 09: Hillary and Bill Clinton arrive to the New Yorker Hotel where she was to address supporters on November 9, 2016 in New York City. The former Democratic Presidential nominee conceded defeat to president-elect Donald Trump earlier in the morning. (Photo by John Moore/Getty Images)
NEW YORK, NY - NOVEMBER 09: John Podesta, the campaign chairman of former Secretary of State Hillary Clinton waits for her to concede the presidential election at the New Yorker Hotel on November 9, 2016 in New York City. Republican candidate Donald Trump won the 2016 presidential election in the early hours of the morning in a widely unforeseen upset. (Photo by Justin Sullivan/Getty Images)
U.S. Senator Tim Kaine (R) is embraced by Hillary Clinton beforeher address to her staff and supporters about the results of the U.S. election at a hotel in New York, November 9, 2016. REUTERS/Carlos Barria
Former President Bill Clinton applauds as his wife, Democratic presidential candidate Hillary Clinton speaks in New York, Wednesday, Nov. 9, 2016. Clinton conceded the presidency to Donald Trump in a phone call early Wednesday morning, a stunning end to a campaign that appeared poised right up until Election Day to make her the first woman elected U.S. president. (AP Photo/Andrew Harnik)
US Democratic presidential candidate Hillary Clinton makes a concession speech after being defeated by Republican president-elect Donald Trump as former President Bill Clinton(L) and running mate Tim Kaine look on in New York on November 9, 2016. / AFP / JEWEL SAMAD (Photo credit should read JEWEL SAMAD/AFP/Getty Images)
NEW YORK, NY - NOVEMBER 09: Former Secretary of State Hillary Clinton, accompanied by her husband former President Bill Clinton, concedes the presidential election at the New Yorker Hotel on November 9, 2016 in New York City. Republican candidate Donald Trump won the 2016 presidential election in the early hours of the morning in a widely unforeseen upset. (Photo by Justin Sullivan/Getty Images)
Hillary Clinton addresses her staff and supporters about the results of the U.S. election as former U.S. President Bill Clinton (L) and her running mate Tim Kaine applaud at a hotel in the Manhattan borough of New York, U.S., November 9, 2016. REUTERS/Carlos Barria
US Democratic presidential candidate Hillary Clinton makes a concession speech after being defeated by Republican president-elect Donald Trump in New York on November 9, 2016. / AFP / JEWEL SAMAD (Photo credit should read JEWEL SAMAD/AFP/Getty Images)
Hillary Clinton addresses her staff and supporters about the results of the U.S. election as her husband, former U.S. President Bill Clinton, looks on at a hotel in the Manhattan borough of New York, U.S., November 9, 2016. REUTERS/Carlos Barria
of
SEE ALL
BACK TO SLIDE
SHOW CAPTION +
HIDE CAPTION

More on AOL.com:
10 hidden ways elections cost Americans big time
3 financial lessons to learn from Donald Trump's victory
Warren Buffett's advice for a Donald Trump presidency

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners