A mystery British businessperson has bet $5 million—almost 3 billion naira—on Donald Trump winning the US Presidential elections, ahead of Joe Biden. Betting Insiders believe that this is the biggest amount of money ever gambled in politics.
The rich former-banker who is based offshore placed his risky gamble with a private bookmaker in Curacao in the Caribbean. A pal of the fluttering financier said he had consulted with “Trump camp insiders” before making the bet. The businessperson is expected to walk away with about $15 million if Donald Trump wins the elections.
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A source from the betting industry reportedly told the Sun, “Words of this bet has done the rounds and we think it’s the biggest ever made on politics.”
However, the mystery financier id not the only one to place last-minute bets on the White House incumbent president: The Sun reports that 3 out of 4 bets were made for Donald Trump in this last week of campaigns.
“The volume of wagers placed on the two candidates over the last 24-hours has seen 93 percent of the money backing Donald Trump to get a second term, with just 7 percent going for Joe Biden.”
An election expert, Paul Krishnamurty, said that the large betting sums were coming in the last days because of the “growing confidence in the betting market.” He affirmed, “That’s what we always see at the end of an election were the people get more confident about the market and the big hitters enter.”
However, “whilst more money has been placed on Donald Trump, it could be telling that the ten biggest stakes are all on Joe Biden.” A Betfair spokesperson told Newsweek.
It would be interesting to note that while political betting is illegal in the United States, it doesn’t stop people overseas from doing it.