The shock wave of the U.S. president’s headwinds has taken a toll on the bookmakers

We were well aware that Tuesday’s 2016 U.S. presidential election will be a historic betting event, both in size and volatility. What we didn’t know was that it will go down as the greatest turmoil in the history of political punishment. Donald Trump, the Republican nominee, has been a crucial underdog throughout the campaign, including when he was nominated to win the White House 150-1 when the campaign began last year. Last night, at 7 p.m. ET, Trump was still an underdog of +550. But as the results poured in and CNN’s map was red-lit, the change in probability was swift and dramatic. By 9 p.m., Trump could be bet on +360, and before the clock hit 10, Trump had a slight edge for the first time. Shortly thereafter, Democratic nominee Hillary Clinton suddenly had a lead in the race, and when Tuesday night turned to Wednesday morning, Trump became the 45th president of the United States with -1900. Shortly thereafter, Trump reached -2200. 온라인경마

Not only did the remarkable result shock Clinton supporters, but it also took a toll on the Paddy Power Sportsbook, which is about 3,000 miles across the Atlantic Ocean, making the bold step of giving away $1 million to Clinton supporters early on Oct. 20 when their odds dropped to a 2/11 low (84.6 percent of the win rate). What is the result? It cost the Irish publication $4.5 million in huge losses. “We’re in the business of making predictions and decided to hang ourselves by paying Hillary Clinton early, is that wrong?” said Pelim Mac IoMeyer, a spokesperson for Paddy Power, on the company’s blog this morning. “We got the biggest political reward in our company’s history with Trump’s victory, and we had a very, very expensive egg on our face.” There was similar despair in the William Hill Sportsbook & Racebook. The election was the biggest political event in the company’s history to bet £5 million, but it left a six-figure loss after 70 percent of political punters backed Trump’s victory. “The good news is that betting on politics is a boom like never before,” said Graham Sharpe of William Hill. “The bad news is that we have very smart customers who seem to be betting on it, and the six-figure loss in this market could add to the recent EU referendum, the last general election, and the defeat in the Labor Party leadership election.” Betfair Sportsbook & Race, an internet betting exchange, also released a record number for hours Wednesday morning as it became official that Trump would really get through the situation.

Betfair spokesperson Barry Orr said on the company’s website that the campaign was reminiscent of the Brexit market earlier this year and that “some amazing things have happened in politics in the last 18 months and this morning’s presidential election was no different.” Orr added that although 60 percent of the money went to Clinton, 54 percent of the tickets went to Trump. “At first, this seemed to be because bettors were happy to support outsiders because Brexit was so fresh in their minds,” Orr added. “But the market seems to be true to the contrary.” Of course, bets on political race are not legally offered in the United States, which disappoints sportsbook directors in Nevada. Westgate Las Vegas Resort & Casino Auxiliary Sportsbook Director Jeff Sherman said earlier this year that this year’s general election in Casino City would have been “the biggest thing we’ve ever dealt with.” Sherman said, “It would have blew the Super Bowl away.”