Presuming it was true, wasn't there a report that it paid hillary bets out early? Lol
Presuming it was true, wasn't there a report that it paid hillary bets out early? Lol
That was Paddy Power.
I wondered at the time if they hedged.
Dude is your avatar really that dude with AIDS from that show? That's not something anyone wants to look at every day. You should change it to Ron Dacey. That's the nigga you want to be.
Welllllll not you. You are kind of a weird faggot that I'm sure at least socially uses crack. It fits.
Paddy Power is known for doing crazy shit like that.
I asked about this a long time ago, apparently there is insurance involved, their risk was minimal and they got a ton of advertising out of it.
Paddy Power to Lose $3.33M from US Elections Wager
http://www.zerohedge.com/news/2016-1...ly-payout-timeQuote:
Paddy Power is paying out customer bets, done at awful levels, but has almost certainly only done so after hedging on the exchange. A closer look at the volume overlayed with the odds on the chart shows that the vast majority of the action was taken with Hillary’s odds north of 80%, and nearly all of the action came with the odds above 60%. Paddy Power can hedge all of its exposure in the market right now for considerably less than the $1 million it will be paying out; with exchange odds for Trump just below 30%, they would only need to put down a touch less than $300,000 of action on Trump to cover a full payout on Hillary. So not only did the Betfair exchange customers lay high sums for low rewards, the Paddy Power customers laid at least 1-5, probably closer to 1-10 odds to place their bets on Hillary.
I agree with someone arguing that Trump wasn't a "lock" prior to the election, but to be so confident about Clinton winning and laying huge sums for little returns is a little delusional, thats not even in hindsight.
How "progressive"