The raucous, passionate and unpredictable 2016 U.S. presidential election is on course to notch another differentiation: the most wagered-upon political event ever.
With many opinion polls showing a tight race only hours before Tuesday’s polling, amounts of bettors are pouring millions into on-line programs from Ireland to Iowa in the hope of capturing a monetary windfall from a success by Republican Donald Trump or Democrat Hillary Clinton.
“We think it is because (of) how raw the Brexit (vote) is in people’s minds – they’re not convinced yet that it’s a done deal,” Totten said.
Most surveys leading into the June 23 referendum of Britain called Britons would decide to stay in the EU. Rather, they voted to leave by a 52 percent.
Betfair’s “Next President” marketplace was by far the biggest of more than 70 marketplaces on the website associated with the U.S. election. As of Friday, some $140 million has been put on marketplaces ranging from that will win the popular vote to many states each party will take into play.
On Ireland’s Paddy Power, which united with Betfair before this season, the U.S. presidential election “is undoubtedly on path to be the largest political event,” said spokesman Féilim Mac An Iomaire. The website has had about $4.38 million wager on the race so far.
However, he anticipates the 2016 race to be among the top-most-traded occasions on the website.
Even individuals without any understanding of politics understand who Trump is, said Mac An Iomaire said, describing the runaway popularity of the U.S. election in wagering markets. “Trump is such a huge celebrity.”
A UK-based gambling company, said a little over $6 million, or about 5 million pounds, had been bet on the 2016 presidential election since its marketplaces on the race opened.
