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