HomeLatest NewsThe Winners and Losers of the US Presidential Election

The Winners and Losers of the US Presidential Election

When you play a game at the JackpotCity online casino, it’s chance you bet against. Casino games are as random as they can be – they are supposed to be that way. The randomness – fairness – of the games at the JackpotCity is verified periodically by independent auditors to ensure none of the games are biased to favor the operator – or the player, for that matter.

Fairness is a guiding principle in betting, too – at least when it comes to sports. People bet on other things, too, like entertainment and politics, though. In this case, fairness may be out of the question – at least that’s what so many people think. Still, political bets are all the rage – especially when the US chooses its next president.

As you might expect, this year has seen quite a few resounding bets placed on the presidential race. No wonder: the stakes were unusually high.

High stakes, big bets

The US presidential elections were certainly the biggest betting event of 2020, a year that’s been pretty weak on major events, by the way. The race was tight, with many last-minute revelations influencing its outcome. Many punters wanted to make some extra bucks on the backs of the two candidates – Ladbrokes Coral Group political betting department head Matthew Shaddick estimated that the total bets placed on it exceeded £1 billion.

Big winners

As it turns out (although it’s not entirely official just yet) those betting on Joe Biden are in for a big payout. The odds were in Biden’s favor at most bookmakers although close to Election Day, Trump recovered some of his handicaps.

Bookmakers have seen several big bets placed on either of the candidates. The biggest this year was reported by Betfair: among the bets worth more than £274 million in total placed ahead of the voting’s start, there was one worth £1 million placed on Biden. This was the third-biggest bet ever placed at Betfair – the other two were one exceeding £1 million on Nadal winning the French Open and another £1-million-plus bet placed on Mayweather’s 2017 fight against Conor McGregor. Both of them were winners.

Bigger loser

The £1 million bet placed on Joe Biden is certainly good news for the punter. Another bettor, in turn, has to cut his losses and move on. And what losses – $5 million, according to the press.

According to the New York Post, an unnamed British gambler bet $5 million on Donald Trump winning last week’s elections and a second term at an offshore bookmaker based in Curacao after consulting with “Trump camp insiders”. The insider information seems to have been off by a bit: instead of a payout of around $15 million, the former banker was left with nothing.


John Milton
John Milton
Having worked in the marketing department at two online sports betting sites, John brings his love of sports to serve BigOnSports as chief writer. He will be researching and writing about the sports betting community to improve your experience as a sports bettor.

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