Betting website pays out $1 million because it's certain Clinton beats Trump

maybe their msm has already said who the winner is, like the bbc did on 9/11 and blg 7, only there 17 days ahead instead of 20 mins.

I would do things like this with my CTR funds.

Why just pay a bunch of bloggers?

originally posted by: CriticalStinker
a reply to: ScepticScot

Odd that would so it again then. Wounder if they've ever paid early with sports.

Calling a political bet early is shady IMO, seems there is other interests involved.

I think it has mainly been football (soccer) that they have done it with. Suspect the free publicity outweighs the risks.

Where are they going to get the money to pay those.that bet on Trump. I bet a Trump win would have paid off very well sunce they gave Hillary such high odds that they paid it early.

Did these guys tuck-tail and run. They are luck they didnt take money from some people I know...

well we can see how the Irish are so easily manipulated. If Trump was done then why are they throwing the basement at him.....the media better hope he wins because he s the only reason anyone is watching it

a reply to: CriticalStinker

Like I said, I would be willing to say that the site itself has done this as part of a much larger gamble.

They're both disgusting cretins and I feel sorry for Americans...youre screwed either way but Trump went into those debates woefully unprepared and was incredibly inarticulate. The main problem was Trump's talking points were presented so vaguely that only those who follow what's going on online would actually understand half of the stuff he was referencing. He got destroyed and it's not like Clinton brought anything of substance to the table.

a reply to: Profusion

It's good publicity...after all..CNN et al are talking about it.

For the return on PR, the Million Dollar "bet" they made which they will likely have to pay out anyways...was worth it.

This way they get the free PR to off-set the payout.

a reply to: Indigo5

Ya, there is some kind of angle being worked here.

originally posted by: introvert
a reply to: CriticalStinker

Like I said, I would be willing to say that the site itself has done this as part of a much larger gamble.

It's a great bet for them.

There is an 88% chance that they will be paying out the 1 Million in a couple weeks anyways when Trump Loses.

By paying early...they get what? Maybe 500k-1 Million in free PR as the news covers it?

Smart move.

Here's the how and why of the payouts, and it's not that unusual. it even happens in sports betting on occasion.

The sports book who took in the bets is so certain that Clinton will win that they have decided to offer a payout to those who bet on Clinton. That payout would be somewhat less (the percentage can vary) than the odds they were given when they made the bets, but are also paid out regardless of the outcome. Basically, the sports book is trying to settle with their clients in hopes that they won't take quite the hit they are anticipating.

The gambler gets a guaranteed payout on their bet, and the sports book avoids paying out the full odds on the bet.

This also means that they were taking the majority of the action on Clinton, while not many were in on Trump.

originally posted by: ScepticScot

originally posted by: CriticalStinker
a reply to: ScepticScot

Odd that would so it again then. Wounder if they've ever paid early with sports.

Calling a political bet early is shady IMO, seems there is other interests involved.

I think it has mainly been football (soccer) that they have done it with. Suspect the free publicity outweighs the risks.

Yes, the most recent example was the soccer team earlier this year (can't remember the name or league) who had ridiculous odds of making the championship game at the beginning of the season, but ended up in the championship. The sports book who took the action offered a reduced but guaranteed payout to the people who made the bet, in hopes to reduce their losses.

Oops!

Apparently, the office Christmas party may even be in jeopardy!

So the early 1 mil payout on the Clinton bets, plus 4.5 mil in payouts on Trump bets puts them 5.5 mil in the hole.

It also appears this isn't their first major blunder (most recently, their odds were off by favoring "remain" for the brexit vote).

a reply to: redmage
Here is a conspiracy theory for you (not entirely serious). In order to boost the sense of inevitable victory, the Clinton camp paid them to pull this trick, or at least promised financial compensation "in the unlikely event" of a Trump victory.

a reply to: DISRAELI

Rest assured, that thought, and many others, crossed my mind when this thread started in Oct..

I had a punt on this on paddy power last week when it was 4/1 odds, wish I'd stumped up more cash now but happy with the result even if I'm saddened by the gullibility of the American electorate.