An anonymous British banker and apparently a die-hard Donald Trump fan has bet £3.9 million on the President securing a second term, online reports said.
Gambling industry insiders claim the $ 5million bet is the biggest ever made in politics. The financier - who is based overseas and whose name has not been released - placed his bet with a private bookmaker in the Caribbean after speaking to 'Trump camp insiders'.
If the anonymous businessman's instincts are correct, he could walk away with almost $15million or £11.6million. Interestingly, three in four of all bets put forward in the last week of voting have been for Trump.
Bookmaker Ladbrokes revealed that though Biden is tipped to win, but even at the eleventh hour punters are continuing to back Trump at the odds on offer. But not everyone is so confident and one Briton has put £1million on Biden winning; he is set to take away £1.5million if he's right.
People were in a scramble to place bets on the eve of Tuesday's election and it is estimated about one billion pounds would be wagered globally across the industry. US gamblers are not allowed to place legal bets on the election, even as legal sports bets are allowed thanks to a 2018 SC ruling. Betfair is estimating total US presidential election wagers on its exchange will top £400 million, or twice what was wagered in 2016.
The winning bet is on who becomes the next president; not who wins the popular vote. The chances of Biden winning are pegged at 65%, and Trump's at 35%. That's slightly better for Trump than the 2-to-1 odds last week.