Australian betting business pays for wrong result
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An Australian betting company has paid out for the wrong result in the country's elections.
Sportsbet gave out more than A$ 1m (₤ 540,000) to those who believed that the opposition Labor Party would win, 2 days before Saturday's vote.
Polls had actually commonly forecasted 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 betting business informed its followers that it has now likewise paid out cash to those who forecasted that Scott Morrison's Liberal-National would win.
As the outcomes can be found in, Sportsbet took to social networks to share the oversight.
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Sportsbet spokesman Richard Hummerston informed the Sydney Morning Herald newspaper: "Seventy per cent of the cash staked before the early payout had come for Labor, our punters called the election early.
" We believed we 'd simply provide them their money early."
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Bookmakers frequently pay out early if they are particular of the outcome. Sometimes where they are sure of the outcome, they pay out to avoid more people putting on bets.
It's not the first time a bookie has actually paid early.
Paddy Power, an Irish bookmaker, paid out on a Hillary Clinton win the month before the November 2016 elections.
It stated it paid out $1m (₤ 786,290) early to those who wager on Clinton and $4.5 m to those who bank on Donald Trump.
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