Paddy Power, a group of Irish bookmakers, are paying winnings on bets to their customers who backed Hillary Clinton in her bid for the presidency of the United States, three whole weeks before the votes are to be counted.
The bookmakers are making their own bet that Donald Trump’s election campaign has ground to a sudden stop. And Paddy Power is paying out big. They’ve already paid more than 800,000 pounds–close to a million dollars.
While most of the other bookmakers are still waiting to being paying out, they all have Clinton as the strong favorite.
The Brits are betting heavily on the U.S. Election. A 46-year-old woman put down a £450,000 bet that with bookmaker William Hill that Clinton would win. If Clinton wins, she’ll pull in £180,000.
Joe Crilly, who handles press for William Hill, said over the summer that they’re seeing a 300% increase over the 2012 election.
“Trump becoming president would not quite be in the Leicester City league of upsets but in political betting it would certainly ‘trump’ the comparatively short upsets of the EU Referendum outcome and the Tories winning the General Election,” he said, in a blog post.
While most bookmakers had set odds at 4/1 or 5/1 on a Clinton win, Trump’s odds are much longer. Bets opened on Trump at 100/1. Bookies now give his chance of winning at 9/2 – just an 18.2% chance of winning.
“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,” said a Paddy Power spokesman.
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“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 odds on a Clinton victory currently give her an 85.7% chance of winning.
If Trump pulls an epic upset the it would mark the biggest political payout in bookmaking history.