Gambling company could lose millions if Trump wins US election

For BetOnline.ag, an online gambling specialist, is heading back to 2016 when, weeks before the US presidential election, authoritative political polls and forecasting models showed that Hillary Clinton could easily beat Donald Trump.

In 2016, RealClearPolitics and FiveThirtyEight predicted that Clinton’s chances of becoming the country’s first female president are about 70%. Other websites were even more optimistic about Clinton, as were the bookmakers.

“When there is a suspicious line or movement in sports betting, the old adage is that Vegas knows something,” said Dave Mason, Brand Manager for BetOnline.ag. “However, in 2016 everyone was shocked. I even think Trump was a little surprised when he won. This voter decision was a big loss for the industry and a big win for the betting public, ”Mason said of the 2016 results.

This year we see that the political events gaming industry is in a very similar position. In this episode, FiveThirtyEight gives Joe Biden an even better chance than Clinton, currently predicting an 89% chance of electing a former vice president. Country average RCP survey shows Biden wins by a narrow margin. But bettors predict the loser again.

BetOnline.ag reported that 85% of the bets on presidential odds have been placed on Donald Trump since the beginning of last week. This unilateral action had a strong impact on the company’s responsibility metrics. BetOnline said it could lose seven figures if Trump is re-elected President of the United States.

“Next week we will all be rooting for the favorite. This is unusual in our industry, but we really need Biden, ”Mason said.

Political betting has become very popular over the past 10 years, and the 2020 US presidential election is close to being the most important decision in the 20-year history of BetOnline, which hosts sports, politics, entertainment and more.

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