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Australian betting business pays out for wrong outcome
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An Australian betting company has paid out for the incorrect lead to the country's elections.
Sportsbet distributed more than A$ 1m (₤ 540,000) to those who believed that the opposition Labor Party would win, two days before Saturday's vote.
Polls had actually a Labor win for the very first time in 6 years.
But with many of the votes counted, Prime Minister Scott Morrison, a conservative, is projected to win a shock majority.
The betting company informed its followers that it has now also paid cash to those who forecasted that Scott Morrison's Liberal-National would win.
As the results was available in, Sportsbet required to social networks to share the mistake.
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Sportsbet spokesperson Richard Hummerston informed the Sydney Morning Herald paper: "Seventy per cent of the money staked before the early payment had come for Labor, our punters called the election early.
" We thought we 'd merely provide their cash early."
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Bookmakers often pay out early if they are certain of the outcome. In many cases where they are sure of the outcome, they pay out to prevent more individuals placing on bets.
It's not the first time a bookie has paid early.
Paddy Power, an Irish bookmaker, paid on a Hillary Clinton win the month before the November 2016 elections.
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It said it paid $1m (₤ 786,290) early to those who bet on Clinton and $4.5 m to those who bet on Donald Trump.
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Australian Betting Company Pays For Wrong Result
latosha761207 edited this page 2025-10-24 11:45:35 +00:00