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Australian betting business pays for wrong result
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An Australian wagering business has paid for the incorrect lead to the country's elections.

Sportsbet distributed more than A$ 1m (₤ 540,000) to those who thought that the opposition Labor Party would win, 2 days before Saturday's vote.

Polls had actually widely predicted a Labor win for the very first time in 6 years.

But with the majority of the votes counted, Prime Minister Scott Morrison, a conservative, is projected to win a shock majority.

The betting company informed its fans that it has actually now likewise paid cash to those who anticipated that Scott Morrison's Liberal-National would win.

As the outcomes came in, Sportsbet required to social media to share the .
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Sportsbet spokesman Richard Hummerston informed the yohaig code Sydney Morning Herald newspaper: "Seventy percent of the money staked before the early payment had actually come for Labor, our punters called the election early.

" We thought we 'd merely provide their money early."

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Bookmakers typically pay out early if they are certain of the result. Sometimes where they ensure the result, they pay to avoid more people putting on bets.

It's not the very first time a bookmaker has actually paid early.
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Paddy Power, an Irish bookmaker, paid out on a Hillary Clinton win the month before the November 2016 elections.

It stated it paid $1m (₤ 786,290) early to those who wager on Clinton and $4.5 m to those who bet on Donald Trump.

More on this story
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Published

19 May 2019
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