British bettors are wagering a record amount of money on the US presidential election, dwarfing the amount wagered on any sporting event or even their own nation’s politics.
As of Wednesday morning, £220 million, or about $284 million, had already been wagered on the Betfair Exchange, said Darren Hughes, a spokesman for Betfair. The London-based company operates the world’s largest online betting exchange.
Americans can now legally wager on sporting events in many states, but it’s illegal to wager on elections, either here or in the UK.
The amount of money wagered on this year’s US election already tops the previous record of the £199 million bet on the Trump-Clinton race four years ago. The greatest bet on any UK election was the £113 million on the 2016 Brexit vote.
Betfair is predicting the amount wagered for the US election will ultimately top £400 million.
“You can’t overestimate how big the president’s profile is in the UK. The betting interest has extended beyond political gamblers,” said Pete Watt, public relations manager for OddsChecker US, which provides advice and information to gamblers.
The betting will continue until a clear winner is announced, said Hughes.
“If, as some have predicted, the counting goes on for days or even weeks, we will continue to leave the market open,” Hughes said.
Betfair is one of several exchanges in the UK, though it is Source…
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