US Elections 2020: UK gambler bets one million pound on Joe Biden as next US president

A United Kingdom gambler has placed a £1 million bet on Democratic Presidential candidate Joe Biden to be next US president on  Betfair Exchange. As per CNN reports, unidentified bettor placed bet on October 29 and would win a £540,000 profit on top of getting original £1 million wr returned if Biden wins presidential vote.

Due to a 2018 US Supreme Court ruling, gamblers in United States are t allowed to place legal wrs on election, even as legal sports betting is popular in country. Thus, UK's legal betting market is soaring as waging on elections in country is legal. As per reports, US election is set to be  most-bet-upon event in history.

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£1 million wr is  third-largest bet in Betfair's history

£1 million wr is reported to be third-largest bet in Betfair's history. bets are flowing into Betfair at a record pace, with £274 million having been recorded by Monday morning i.e. a day before US elections. It takes several days for a bet to appear in data, hence  October 29 bet has shown up only w.

As Betfair will allow gamblers to keep wring until a winner is declared, re could be days more staggering bets. company is estimating total US presidential election wrs on its exchange will top £400 million, or twice of what was wred in 2016.  winning bet will be who becomes next president, t who wins  popular vote, company said.

According to Oddsmakers, Biden has 65 percent chances of winning  presidential election while Trump has 35 percent chances. 

Meanwhile, nearly 98 million people are already reported to have voted through mail-in ballots or early in-person voting. This year’s US presidential election will be first in history in which more people voted ahead of election day than on it. With a massive surge in mail-voting, it is likely that US citizens won’t kw which candidate won many states, including key battlegrounds, on election night. 

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