- Legal States
Stoyan Todorov November 3, 2020 2 min read
Man Wagers $5M on Donald Trump Winning the 2020 Presidency
A British businessman located offshore used a bookmaker in Curacao to make a $5 million wager backing current US President Donald Trump for reelection.
Largest Political bet in History Worth $5m Placed on Trump
An unnamed individual has placed a last-minute $5 million wager on US President Donald Trump for his reelection in the November ballot. The individual, who is located offshore, used a private bookmaker in Curacao which accepted his wager and what is believed to be the single largest bet on a political race in history.
According to a person close to the matter cited by The Sun, the businessman had connections within Trump’s reelection campaign who felt confident of POTUS’ chances for reelection. Should mystery man’s wager succeed, the individual is looking at a $15 million return.
Bookmakers Confirm That Betting Handle Backs Trump
Ladbrokes, a popular British bookmaker commented that a lot of the betting push for Trump came in the last week. Nearly 3 out of 4 bets on the incumbent were placed in the last seven days, Ladbrokes’ Jessica O’Reilly said, adding:
“Biden looks home and hosed according to the bookies and pollsters, but even at the eleventh-hour punters are continuing to back Trump at the odds on offer.”-Ladbrokes Jessica O’Reilley
Paddy Power, another sportsbook, confirmed that in the past 24 hours, an estimated 93% of all money was placed on Donald Trump, even though the odds continue to back Former Vice President Joe Biden. In fact, another anonymous individual made a $1.30 million bet on Biden, the Democratic presidential hopeful, to win the 2020 race.
Betfair confirmed that some $337 million worth of bets have been placed with it, an amount that beats any previous political races, and it certainly outstrips the Super Bowl in terms of betting volume.
The estimated handle has by far outdone the amount wagered on the political race in 2016 when Trump was given even slimmer chances of success, but he ended up defeating Democratic candidate and Former Secretary of State Hillary Clinton.
Political betting is not allowed in the United States, but it has enjoyed popularity around the world. Offshore bookmakers are also raking in solid results.
According to BetOnline, one of the leading bookmakers that focuses on the US market, should Trump win the race, the bookmaker is going to lose a sum “in the low seven-figures”.