*Update: November 9, 8.15am*
D’oh! A bleary-eyed Paddy Power is stumbling around the Dublin office this morning confused, concerned and most importantly, skint! Donald Trump was elected the 45th President of the United States last night, costing Paddy a massive $4.5m in the betting. The Donald was hit with controversy after controversy in the run-up to the election, and the gaffer was fairly confident of a Hillary win. So much so that we paid out $1 million early to punters who backed Clinton – you can read more of that below.
But now we’ve been Trumped! A late FBI investigation dealt Hillary’s campaign a blow, and now Paddy Power has some very expensive political egg on his face.
- You can read more about Paddy Power’s biggest political payout in history right here
- The story of how we originally paid out on Clinton is below
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, as of October 20).
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 the chief’s face.
Paddy Power continues to offer betting right up to and including Election Day. One of the most popular bets on offer is predicting the winning margin of the successful nominee on November 8.
Payout applies to all single bets placed before 1.30pm on Tuesday 18th October 2016 on Hillary Clinton to be the winning candidate in the US Presidential Election 2016.