The identification of the bettor, who positioned the wager on October 29, shouldn’t be recognized. They might win a £540,000 ($696,170) revenue on high of getting the unique £1 million wager returned.
The £1 million wager is tied for the third-largest wager in Betfair’s historical past, behind £1.1 million wager on tennis participant Rafael Nadal within the 2010 French Open, and barely greater than £1 million wager on Floyd Mayweather Jr. in his 2017 match towards Conor McGregor.
The wager might be an excellent omen for Biden: The ten largest bets in Betfair’s historical past prior to now, all on sporting occasions, have been winners.
“A tiny distinction within the odds will make a giant distinction within the returns of the big-money bettors,” he mentioned. Due to that, these bettors would possibly wait till they’re satisfied they will get the very best odds on their bets.
The bets are flowing into Betfair at a report tempo, with £274 million, or $353 million, having been recorded by Monday morning. And it takes a number of days for a wager that has been made to indicate up within the information, which is why the October 29 wager has solely now turn out to be recognized. So the whole wagering on the vote is probably going effectively above that degree.
The biggest political wager ever made on Betfair Trade was a £555,000 wager made on Trump in 2016 that got here in at about 12:30 am ET, the day after the election, after a lot of the US polls had closed, however earlier than he was declared a winner.