Paddy Power is an Irish bookmaker who, among other things, runs a book on American presidential elections. Apparently is is so sure Clinton is going to win it has paid off its book early. Here’s the story.
“With national polls showing a healthy lead for the Democratic candidate and Donald Trump’s campaign running into scandal after scandal, Paddy Power believes it’s a done deal and that Hillary is a nailed-on certainty to occupy the Oval Office.
The Donald had seen his initial odds of 100/1 (November 2012-June 2015) freefall to as short as 13/8 (May 2016) at one point but recent revelations have halted his momentum and caused his chances of victory to plummet like the value of sterling, resulting in chunky odds of 9/2 (representing a 18.2 per cent chance of winning).
Get stuck into the latest US Election betting over on PaddyPower.com
Read the story of the betting with our in-depth look at Trump vs Clinton
The gutsy call sees one of Europe’s largest betting companies put their neck on the line for over $1,000,000. Prior to paying out, the former First Lady’s odds fell to a low 2/11 (84.6 per cent chance of winning) and over the past week Paddy Power have seen a flood of money on Clinton.
A Paddy Power spokesperson said: ‘Trump gave it a hell of a shot going from a rank outsider to the Republican candidate but the recent flood of revelations have halted his momentum and his chances now look as patchy as his tan. Recent betting trends have shown one way traffic for Hillary and punters seemed to have called it 100 per cent correct. Despite Trump’s Make America Great Again message appealing to many disillusioned voters, it looks as though America are going to put a woman in the White House.
The bookie has form in this area having famously paid out $700,000 on Barack Obama winning two days before the 2012 election.
However, things haven’t always gone to plan for the trigger happy Paddy Power who were stung by Y.E Yang after paying out early on Tiger Woods winning the 2009 PGA Championship and Manchester United whose late season collapse in 2013 saw their rivals Manchester City pip them to the Premier League title after the bookie had paid out on the Red Devils.
Should Trump upset the odds and become 45th President it will trigger the biggest political payout in bookmaking history and leave Paddy Power with some very expensive pie on its face.
Paddy Power continues to offer betting right up to and including Election Day. One of the most popular bets currently on offer is predicting the winning margin of the successful nominee on November 8th.”