Donald Trump's victory in the US presidential election had bookmakers celebrating as 75% of all stakes were placed on the defeated candidate, Hillary Clinton.
Similar to the betting trends in the Brexit referendum, Clinton led by a margin in nearly all poll surveys. In fact, in terms of popularity vote, Clinton was the clear winner. However, in terms of electoral votes, Trump easily breezed past the 270 points required to make him the elected president.
In Florida, it was suggested that she would win the polls. The stakes there was 1-10 for Clinton and 10-1 shot for Trump. However, as Trump's lead on electoral votes began to take shape, especially on perceived Democrat states like Michigan and Wisconsin, bookies and exchange bettors ran for cover.
UK bookmakers took more than $250 million in bets over the election outcome in the US, thus making it the biggest political event in gambling history, doubling that of the Brexit vote.
Exchange Betfair said that just under $250 million was wagered on the outright market. This was $90 million than was betted on the Brexit vote.
William Hill took $5 million on the US election outcome. "Donald Trump started as a 150-1 no hoper, but was very well backed, albeit in smaller amounts than we accepted for long-time favourite Hillary Clinton," said Hill's spokesman Graham Sharpe
"This campaign absolutely decimated all previous political betting records and shows what a popular betting subject politics is.
"The US Election statistics reflect almost identically the division of stakes and bets for Brexit.
"The odds on the day for the two candidates were almost identical to the Remain/Leave odds on EU Ref day; Brexit became favourite for the first time just before 2am on EU Ref night, Trump at just after 2am on polling night."
Betting Interest in Politics
The reason why survey polls where nowhere near the results was because polling companies did not explain any margins of error that have been factored into their computations, said Mike Smithson, editor of Politicalbetting.com.
"Most of the punters' action went on Trump in the run up to the vote yesterday, but this was as much to the better odds offered on the underdog," he added.
In the past 70 years, the new era in politics - more volatile and unpredictable - has helped attract new punters who are interested in politics. The upcoming general elections in France and Germany next year will most likely create a big interest in the betting sector. Although they may not be in the scale of the US elections, they will still be big.
In the US, the defeat of the favorite candidate gave positive results for bookies, giving them big pay-outs. A Betfair client wins more than $2 million in payout, whereas Hill's will be paying two bettors more than $100 thousand.
It has been reported that the US election has created unprecedented interest, with a huge number of bets taking place after 10pm on Tuesday up unto the early hours of the next day.
Ed Fulton, political trading spokesman for Sporting Index, said: "Five months of hard work has gone into our election book, covering all of the scandals, midnight suspensions of markets and more.
"The most divisive election in history has also proved to be one of the most volatile."
"While many expected Hillary to walk away with the keys to the White House, we were happy to take her on and that has paid off; the further Trump wins by, the better for us."
Source: http://www.igamingbusiness.com/news/bookies-celebrate-underdog-trumps-election-win
