US elections: British man bets $5 million on Trump

Web Report
Filed on November 3, 2020

Presidential elections expected to involve more than $1 billion in betting

A British man has bet $5 million on US President Donald Trump’s chances of being re-elected for a second term.

According to The Sun newspaper, the former banker placed the bet through bookies in Curacao. It is claimed to be the largest political bet ever made. If the man wins, he will walk home with a whopping $15 million payout.

The USA Today has reported that the US presidential election 2020 is expected to involve more than $1 billion in offshore betting.

Meanwhile, another person in Britain has placed a $1.3 million bet on Joe Biden, according to Betfair Exchange. If Biden wins, the player would bag $2 million.

Trump’s odds of winning the election improved to 39% from 35% on the UK-based platform, while Democratic challenger Biden saw his chances dip to 61% from 65%.

According to Betfair the US election is by far the biggest betting event on record, with $389 million bet with the platform so far.

with inputs from Reuters

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