Paddy Power pays out $1m on Hilary Clinton becoming president
Irish bookmakers Paddy Power are paying out to customers who backed Hillary Clinton to win the US election, three weeks before Americans go to the polls.
The bookmakers are paying out $1m (€910,000), gambling on Donald Trump’s election campaign being all but finished.
Other bookmakers all make Mrs Clinton the strong favourite.
Ladbrokes currently gives her odds of 2/11, and Mr Trump 4/1.
Betfair makes him even more of an outsider, with odds of 5/1.
In October a 46-year-old woman made a £450,000 (€502,000) bet with William Hill on Mrs Clinton winning, which would give her a £180,000 return.
Joe Crilly, press officer at William Hill, said over the summer that the turnover for bets on this US election in total is more than 300pc times bigger than for the ballot in 2012, partly because both candidates are so high-profile.
“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.
Mr Trump initially was given odds of 100/1, between November 2012 and June 2015, of occupying the White House. By May this year however he had decreased his odds to 13/8.
But recent revelations have halted his momentum, and the bookies now give his chance of winning at 9/2 - an 18.2pc 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.
“Recent betting trends have shown one way traffic for Hillary and punters seemed to have called it 100pc 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.”
Mrs Clinton’s odds of claiming the presidency have fallen to 2/11 – giving her an 85.7pc chance of winning. Over the past week, Paddy Power says they have seen a flood of money on Mrs Clinton.
Two days before President Barack Obama won the 2012 election, the bookie paid out $700,000.
Should Mr Trump upset the odds and become 45th president it will trigger the biggest political payout in bookmaking history.