Paddy Power have today cut Hillary Clinton’s odds for the first time in ten days due to a string of large bets on the candidate.
The Democratic candidate, who was as short as 1/6 (Representing an 85.7% chance of being elected) just over a week ago, saw her chances plummet to as low as 2/5 (71.4% chance) following the reopening of the investigation into her email server.
During the same time period Donald Trump’s odds were slashed from 5/1 (16.7% chance) to 5/2 (33.3% chance) as the momentum swung in his favour.
The past couple of hours have seen the first positive shift in the odds for the Democrats, with Clinton going from 2/5 to 1/3 (75% chance), while Trump has lengthened from 2/1 to 5/2 (28.6% chance).
Paddy Power have already paid out over $1m to its customers who had backed Hillary, should Trump win it would trigger the biggest political payout in history for the company.
Asked about the move in the market Féilim Mac An Iomaire, a spokesperson for Paddy Power, said “It was all one way traffic this week with customers weighing behind The Donald to swap Trump Tower for the White House, but we’ve seen a big swing in customer behaviour today.
“Hillary’s odds seemed to have gotten long enough to pique the interest of some of our bigger punters and several five figure bets later have forced us to cut her odds for the first time since the middle of last week.”
US Presidential Election betting
1/3 Hillary Clinton
5/2 Donald Trump
500/1 Evan McMullin
500/1 Jill Stein
500/1 Gary Johnson