Australian Betting Company Pays For Wrong Result

Australian wagering business pays out for wrong outcome

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An Australian betting business has actually paid out for the wrong outcome in the country's elections.

Sportsbet handed 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 actually extensively forecasted a Labor win for the very first time in six years.

But with many of the votes counted, Prime Minister Scott Morrison, a conservative, is projected to win a shock bulk.

The betting company informed its fans that it has actually now also paid cash to those who predicted that Scott Morrison's Liberal-National would win.

As the results was available in, Sportsbet required to social media to share the yohaig code oversight.

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Sportsbet spokesman Richard Hummerston informed the Sydney Morning Herald newspaper: "Seventy percent 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 frequently pay early if they are specific of the result. In some cases where they ensure the outcome, they pay to avoid more people placing on bets.

It's not the very first time a bookmaker has actually paid out early.

Paddy Power, an Irish bookie, paid on a Hillary Clinton win the yohaig code month before the November 2016 elections.

It said it paid out $1m (₤ 786,290) early to those who wager on Clinton and $4.5 m to those who bet on Donald Trump.