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US President-Elect Trump: Big Payouts, Big Losses

Written by:
Guest
Published on:
Nov/10/2016

One British gambler won £1.2 million on Donald Trump becoming the next US President while Ireland’s lost $4.5million after that firm paid out $1million to gamblers who backed Hillary Clinton weeks before Election Day, assuming she was going to win.

Estimates on the overall money bet on the US Presidential election began to filter in Thursday with a total of $250 million wagered in the United Kingdom alone, $25 million of which came through traditional betting channels. 

In the United States, most bets are placed on offshore websites that do not typically report their financials.  Political bets are not currently permitted in Las Vegas, one of the few regulated gambling markets within the United States.

The punter who walked away with £1.2 million won that off of a handful of small wagers placed at both Spreadex and Betfair when Trump’s odds were at their longest.

Later identified as British tycoon Vincent Tchenguiz, the experienced gambler said he was surprised by the extent to which everyone had dismissed Mr Trump as the next US president.

Tchenguiz said he had previously won £1 million which he made after betting £200,000 that Greece would win Euro 2004.

- Aaron Goldstein, Gambling911.com

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