Anonymous British Banker Places $5 Million Bet on Donald Trump to Win

US President Donald Trump tosses the coin before the Army v. Navy American Football game in Philadelphia on December 14, 2019. (Photo by Andrew Caballero-Reynolds / AFP) (Photo by ANDREW CABALLERO-REYNOLDS/AFP via Getty Images)
ANDREW CABALLERO-REYNOLDS/AFP via Getty Images

In what is being characterised as the largest election day bet in presidential history, an anonymous British businessman has reportedly placed a $5 million bet on President Donald Trump to win his bid for re-election.

The Brit, who is said to be a wealthy retired banker, used offshore private bookies on the Caribbean island of Curacao to place the massive bet on Trump.

A friend of the mysterious gambler told the British paper The Sun that the wealthy punter consulted with “Trump camp insiders” before placing the bet. Should Trump prove successful in the election, the bet would net the former banker a nearly $15 million return.

A source within the gambling industry told the paper: “Word of this bet has done the rounds and we think it’s the biggest ever made on politics.”

British betting company Ladbrokes reported a late surge in bets on the president to win, saying that 75 per cent of all bets in the last week of the campaign was on Trump.

Jessica O’Reilly of Ladbrokes said that while Biden remains the favourite for oddsmakers “even at the eleventh-hour punters are continuing to back Trump at the odds on offer.”

Another bookie site, Paddy Power, said that in the final day before bets closed, 93 per cent of all wagers were placed on Trump.

While betting on presidential elections remains illegal in the United States, the practice is standard fare in the United Kingdom.

Betting agency Betfair Exchange said that the money wagered on this year’s election has shattered records, with some $337 million (£257m) being bet by chancers on the presidential race.

The head of political betting at the British sports betting and gambling company GVC, Matthew Shaddick said: “This is a huge market,” adding: “It is twice as big as 2016, easily making it the biggest political event ever.”

On Monday, staunch Trump ally and leader of the Brexit movement in the UK, Nigel Farage announced that he placed a £10,000 bet on the president to secure re-election.

“Still feeling confident. I won on Brexit and Trump in 2016 and I’m going double or quits!” Mr Farage wrote on social media.

Follow Kurt Zindulka on Twitter here: @KurtZindulka

.

Please let us know if you're having issues with commenting.