Bookmakers Could Still Pay Out On Trump in US Election
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UK bookmakers have confirmed they could still pay out bets on Donald Trump winning the 2020 US election if the president succeeds in his legal appeals.
Mr Trump and his followers are pushing a number of lawsuits in various key swing states in the hope of overturning Joe Biden’s impending victory.
Biden was called as the victor of the November 3 election in the days following the vote, as mail-in ballots began to be counted and added to each state tally.
The Democrat eventually pushed over the mark of 270 electoral college votes required to win the election and is now projected to win by 306 votes to Trump’s 232.
But with Trump currently refusing to instigate transition proceedings and pushing lawsuits around the country, bookmakers are wary that the election might not be over.
Paid Out On Biden
Gambling.com has spoken to a number of UK betting companies who recognise that they would be liable to pay out on Trump bets despite already settling winning wagers for Biden backers.
“We would not – and couldn’t even if we wanted to – retract the bets already paid out on Biden. So everybody would win there apart from the bookies,” one spokesperson said.
Another said: “If he [Trump] was the next president then we would have to pay out a second time, but we are very confident of the result and would not have paid out otherwise.”
It took a few days for bookmakers to finally pay out on Biden after election day. An estimated 65% of bets placed on the 2020 US election sided with Trump and in the days leading up to the vote a British gambler even placed a £3.9m wager on the incumbent winning a second term.
Trump’s odds on winning the election persistently pitched higher than his poll ratings suggested as punters sided with the businessman, wary of his ability to surprise pollsters after his victory over Hilary Clinton in 2016.
Indeed, four years ago bookmaker Paddy Power paid out early as much as €1m on Clinton winning the election, only for them to then pay winning Trump bets too.
But while the sitting president is still battling to keep his post as Commander and Chief, bookmakers aren’t expecting a surprise turnaround at this stage of the race.
Will Trump Run Again?
Biden is currently 1/25 to be inaugurated on January 20 next year. Whether or not Trump will attend remains to be seen, with the president currently embattled in a stand-off with the Democrats and much of his own party.
There are also rumblings that Trump will not go quietly even if he does cede power. At 74, the billionaire is considering running for office once again in 2024.
He has come in to as narrow as 6/1 to win the 2024 US election, with Biden and his vice-president elect Kamala Harris priced lower at 4/1 each.
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