Industry news

A London Gambler Won £500,000 Betting on Donald Trump to Win US Presidential Election

Industry news

A London Gambler Won £500,000 Betting on Donald Trump to Win US Presidential Election

A London gambler wagered £200,000 at the Spreadex sportsbook on the proposition Donald Trump would win the US presidential election. With Trump’s surprising victory in the November 8 contest, the Londoner stands to win £500,000 on top of his original stake.


The gambler’s winnings were just one many big prizes for those willing to wager on the Donald Trump candidacy, despite months of data showing him behind in the polls.


Post-election pundits are suggesting a kind of reverse-Bradley Effect, in which college-educated white Americans refused to admit to pollsters they were voting for Donald Trump, because he is widely regarded as a racist, sexist, and religious bigot. In effect, people who would not admit in polite society the would vote for Trump, overwhelmingly voted for him.


Betting on the U.S. election is expected to break records for proposition bets at the UK sportsbooks. Ladbrokes claimed that 35 gamblers a minute were making wagers on the proposition.


Six-Figure Bets on the American Election

Several British gamblers placed six-figure wagers on the election’s outcome. The payouts for a Trump victory have declined in the past few days, after a Nottingham-based gambler placed a £37,000 wager on Trump. Several larger wagers of that sort caused bookmakers to adjust wagers down.


William Hill’s and Ladbrokes’s each posted odds of 2:9 on Secretary Clinton, while the odds were 10:3 on Donald Trump winning. Those were the final odds provided by the United Kingdom’s largest sportsbooks, though the odds fluctuated over the months.


Spreadex on London Gambler

After it received the £200,000 bet, Spreadex chose to make the action part of its marketing effort. Spreadex posted a release which said, “It’s official, the US election is now our single biggest betting event ever and we are seeing some huge bets being placed, including one customer who has staked £200,000 on a Trump victory.”


Now Spreadex is going to have to cover a half-million pound loss. William Hill got out much luckier, as a London resident wagered £150,000 on Hillary Clinton becoming the first female president. A Durham-based woman gambled £183,000 on Hillary Clinton’s prospects, too, in a two-part wager at William Hill.


William Hill Press Release


Graham Sharpe, a spokesman for William Hill, addressed the high level of wagering. Sharpe said, “The US election campaign has smashed all previous election betting records, with the biggest betting turnover for any political event, with £20m riding on the outcome industry-wide.”


“William Hill alone are about to exceed a £4m turnover for the first time on any political event, and with the result still too close to call we anticipate a political bets bonanza in the closing hours of the election campaign.”


John Mappin’s Wagers

John Mappin, who owns a castle in Cornwall, bet £100,000 on Donald Trump winning. Mappin wagered over 30 different bets, according to the Press Association. John Mappin is from one of England’s most prominent jewelry and silver families. Besides owning the castle in Cornwall, he also describes himself as “something of a media mogul and owns a newspaper group”, though his stated goal is to “spread a message of universal peace and inner tranquility through his newspapers”.


Instead of publishing news items that are “slanted or discouraging”, John Mappin publishes “true and unbiases” news items that are “encouraging and heartening”, in order to make his readers happy. Thus, it is supreme irony that Mr. Mappin was able to tap into the angry and frustrated mindset of voters from America’s Rust Belt region, whom Donald Trump described as America’s “Brexit states”.


Donald Trump’s International Stance

The 2016 U.S. presidential election seemed to capture the imagination of many gamblers around the globe. America’s elections always draw attention from allies and rivals alike, but this year seemed to gather special attention. Perhaps because of Donald Trump’s own controversial statements on foreign relations, people around the globe seem to be focused on the event.


Donald Trump has suggested he disdains America’s traditional alliances with the NATO alliance, Japan, and South Korea. He has claimed that the United States under his direction might not defend its NATO allies, if those countries did not contribute 2% of their GDP to the alliance. He also suggested that he would be amenable to Japan and South Korea acquiring nuclear weapons, which contradicts America’s decades-long stance on nuclear proliferation.


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