British Gambler Stakes Record-Breaking $5m on Trump’s Victory

Spread the Word:

An unidentified British gambler has placed the biggest political bet ever as he staked $5 million on Trump’s victory in the 2020 US election.

Just a day ago, Betfair claimed that one mysterious bettor in the United Kingdom placed over $1 million on Democratic candidate Joe Biden’s victory. The bet was the largest single bet on a political event. Less than 24 hours later, the record has been humbled by another anonymous gambler in England who staked a far greater amount on the Republican candidate.

According to the New York Post, the bettor who wagered $5 million on Trump’s victory used an offshore gambling site registered in Curacao. The bettor will take home around $15 million if Trump is able to enter the White House again in his second presidential bid.

Further Details

The unidentified person who placed the largest political bet ever is reportedly a British ex-offshore banker. He placed the wager through a private bookmaker registered and operated in the Caribbean island of Curacao.

According to a report, the bettor spoke with “Trump camp insiders” before deciding to raise the stakes. While speaking to the Sun, a betting industry source said there isn’t a whole lot of science involved in this bet, adding that “word of this bet has done the rounds and… it’s the biggest ever made on politics.”

Growing Political Betting Interest in Europe

Betting on the outcome of an American election is prohibited in the United States, but it is legalized in the UK and in many other countries. The 2020 US presidential election is likely to become the most popular betting event in history. According to British bookie Ladbrokes Coral, $1.3 billion (£1 billion) are expected to bet globally on the US presidential race.

Last month, $150 million in bets were made in European markets alone, with Biden having 2-1 odds to win. According to Betfair, one bettor had placed a $1.3 million (£1 million) bet on Biden in the hope of taking away 2 million (£1.54 million).

Who has the Better Chances?

As the election is inching to the final phase, it is still difficult to predict either candidate’s victory. While OddsChecker has suggested Biden as the favorite candidate, it said the difference between the two White House runners has “drastically narrowed” since Monday.

The site’s head of marketing, Sam Eaton, said the 2020 election is following a very similar betting pattern to the one that was witnessed in 2016. “The closer we got to Election Day, the more money came for Trump,” Eaton said.

Trump won the race in 2016 despite facing even lower odds. While the Republican candidate is once again facing low odds, it hasn’t cooled the interest of the betting public. Oddschecker has reported that around 71% of the money bet on the event in the last 24 hours has come in on Trump to win. According to Paddy Power, over 90% of wagers on the election outcome with the past day have come in on the Republican president’s victory.

As we entered into the election day eve with Biden as the favorite, the gap between the two candidates had drastically narrowed.

Biden, A Steady Favorite on Election Day

Odds have shifted drastically across political betting sites in the past few days. While Trump had been the favorite to be re-elected earlier, Biden has entered Election Day as a favorite candidate. Currently, the Democratic candidate is listed as a -210 favorite at BetOnline and a -180 favorite at MyBookie to become the 46 President of the United States.

While many crazy bettors are still wagering on Trump’s victory in the hope of receiving an unbelievable amount of money in case he wins, most Europeans are placing wagers on Biden to win. According to Betfair’s political analyst Paul Krishnamurty, all 10 of the biggest bets at Betfair Exchange have come in on Democratic candidates. Eight of those bets came within the past fortnight.

Another British betting exchange, Smarkets, gives Biden a 65% chance of victory, while the incumbent president is just 34%. However, all the predictions, including polls results and betting market trends, may prove false in their estimates as they did in 2016.

Related News

Joe Biden
November 17, 2020

British Man Who Bet $1.3M On Biden Still Not Paid

The 2020 US Presidential election is still not over for the British person who bet $1.3 million on Democratic candidate Joe Biden’s victory and still awaits his winnings. When placed […]

read more
October 15, 2020

New Jersey Sets A Record-Breaking Sports Betting Handle

The state of New Jersey has recorded an unprecedented boom in sports betting in August, with around a $668 million betting handle. Amid all the adversities including the coronavirus pandemic, […]

read more
Chicago
May 14, 2021

Illinois Sports Betting Posts Record $633.6M in March Handle

Illinois sports betting finally topped the $600 million handle mark, thanks to March Madness, an additional sportsbook, and mobile registration. The Prairie State is the last one to report its […]

read more
Colorado
January 27, 2021

Colorado Posts Record-Breaking December with $284M Handle

Colorado has posted another sports betting handle record in December with $284.6 million, concluding the year with a $1 billion-plus handle. According to the figures released by the Colorado Division […]

read more
Detroit Tigers
July 21, 2020

PointsBet and Detroit Tigers Sign a Ground Breaking Deal

The Detroit Tigers have made history by entering into a multi-year sports betting partnership deal with the gaming operator, PointsBet. As a gaming operator, PointsBet is a flourishing sports betting […]

read more
Donald J Trump
November 11, 2020

US Man Loses $27,000 Betting on Trump, Demands Refund for “Election Fraud”

A US citizen who placed $27,000 on Donald Trump to win the 2020 US Presidential Election has demanded a refund of his wager for “election fraud.” The offshore gambling site […]

read more
Scoreboard app
November 29, 2020

Oregon Sports Betting Posts Record-Breaking Handle in October

Oregon sports betting continues the general trend by posting its most successful month in October since it was legalized in August 2019. According to the figures posted last week on […]

read more
Fanduel Sportsbook
December 7, 2020

Flutter Acquires 37% More Stakes of FanDuel in $4.2bn Deal

Flutter Entertainment Plc announced Thursday to buy the remaining 37% stake owned by Fastball in FanDuel Group for $4.2 billion. However, the conditional agreement is subject to approval by Flutter […]

read more
Pennsylvania Lottery
August 5, 2021

Pennsylvania Lottery Sees Record $1.3B Profit This Fiscal Year

The Pennsylvania Lottery has defied the pandemic by generating record-breaking profits of over $1.3 billion for the fiscal year that ended this June. The previous record was made in the […]

read more
Donald Trump
December 14, 2020

Trump Says Even Bookies’ Predicted His Predominant Victory

President Trump has renewed his complaint about the election, wondering how he could lose after bookies gave him a 97% favorite. While taking on Twitter last Wednesday, the outgoing president […]

read more
October 17, 2020

Pennsylvania Online Gambling Revenue Hit Record Highs in August

After months of inactivity, Pennsylvania’s online gambling industry has resumed its record-setting pattern in August with $55.9 million of revenue. Online gambling in the state marked its first year in […]

read more
Live! Casino
August 9, 2021

Maryland Casinos Set New Monthly Revenue Record in July

Maryland casinos have posted a new gaming record in July by posting a total of more than $180 million through the six facilities in the state. Since March it has […]

read more

Stay Updated & Receive Exclusive Offers

Be the first to know when new states legalize online gambling and gain access to exclusive casino and sports betting promotional offers.