Bookmakers Paddy Power has admitted to its worst-ever battering in elections betting after losing €4 million to punters who had taken generously-priced bets on Donald Trump winning the White House.
"It's our worst political disaster, ever," said the eponymously-named Paddy Power on Wednesday morning. "Most of the betting was online, but it happens only a week after we paid out on Hilary Clinton. "
The Irish-based bookmaker had been confident of being on the right side of the odds as Trump suffered blow after blow late in the campaign, but was rattled when the FBI announced that it was looking again at Clinton’s controversial emails.
“We’ve been well and truly thumped by Trump with his victory leaving us with the biggest political payout in the company’s history and some very, very expensive egg on our faces,” said company spokesman Féilim Mac An Iomaire.
However, it has already started taking bets on a number of Trump specials, including 4/1 that the 71-year-old will be re-elected in 2020. But it is offering much longer odds – 20/1 – that he will actually "build that wall" on the Mexico border.
Donald Trump Specials
4/1 to be re-elected in 2020
10/1 to be successfully impeached
6/4 to appear in court during presidency
100/1 turn the White House gold
20/1 to build a Mexican border wall (wall covering entirety of US-Mexican border)
First international visit:
66/1 North Korea