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Australian wagering business pays out for incorrect outcome
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An Australian wagering company has actually paid out for the incorrect lead to the nation's elections.
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Sportsbet gave out 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 a Labor win for the very first time in six years.
But with the majority of the votes counted, Prime Minister Scott Morrison, a conservative, is predicted to win a shock bulk.
The wagering company informed its fans that it has actually now also paid cash to those who forecasted that Scott Morrison's Liberal-National would win.
As the results came in, Sportsbet took to social networks to share the blunder.
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Sportsbet spokesman Richard Hummerston told the Sydney Morning Herald newspaper: "Seventy percent of the money staked before the early payout had come for Labor, our punters called the election early.
" We believed we 'd simply provide their cash early."
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Bookmakers typically pay early if they are specific of the yohaig code result. In many cases where they ensure the result, they pay out to prevent more people placing on bets.
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It's not the very 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.
It said it paid out $1m (₤ 786,290) early to those who bank on Clinton and $4.5 m to those who bank on Donald Trump.
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Published
19 May 2019
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Australian Betting Company Pays out For Wrong Result
callumparnell edited this page 2025-10-20 11:25:28 +08:00