PaddyPower Grades Hillary Clinton President Bets as Winners
Update 11/9/2016: According to reports PaddyPower has incurred a loss of a reported £3.5 million by double-paying the market and prematurely grading Clinton bets as winners. Sports bettors cashed big on Trump's surprise victory.
Irish bookmaker PaddyPower (SBR rating A) has prematurely settled all bets on Hillary Clinton to beat Donald Trump and become the next US President as winners. PaddyPower made the announcement earlier this morning via their Twitter account.
The betting site reportedly paid out on over €900,000 in winnings to bettors who wagered on the former Secretary of State to win the general election.
PaddyPower is known for creative and engaging promotions and clever marketing. The sportsbook previously paid out €700,000 in winning bets on Barack Obama beating Mitt Romney two days prior to the 2012 election.
The Irish bookmaker would likely take a solid thumping if Donald Trump pulls off the upset as then the bookmaker would pay out both sides of the market as winners. Trump is currently a 4.5 to 1 underdog at most online sportsbooks to beat Clinton. Trump was as long as a 66 to 1 underdog June of 2015 prior to capturing the Republican party's nomination. Bookmakers have adjusted Trump's odds considerably following the release of the tape of the Donald discussing making unwanted sexual advances on women.
Online sportsbooks have released a variety of betting odds on tomorrow night's third and final presidential debate. Gamblers can wager on both Trump and Clinton mentioning certain phrases during the course of the 90-minute debate, which will be moderated by Fox News' Chris Wallace.