Regardless of what media outlets & Democrat leaders are saying, the 2020 Presidential election still isn't over.
If you bet money on who the 2020 POTUS winner would be, that cash is still sitting in limbo.
President Donald Trump has not yet conceded in the 2020 presidential election, and bookmakers who took bets on the winner aren’t ready to call the race, either.
Online gambling sites have yet to call Biden “president-elect,” which has put millions of dollars in wagers in limbo. “At one site alone, London-based Betfair, nearly $600 million in presidential wagers are hanging tight,” the New York Post reported.
“We still have not graded a winner,” Adam Burns, sportsbook manager of BetOnline, told the Post, adding that a call awaits resolution on the Trump campaign’s legal wranglings. “People who bet Trump say it is not over. People who bet Biden say it is. This makes for a tricky situation where we have to be sure. It’s not like a football game,” Burns said.
And that’s left lots of money in the kitty. “The presidential election was bigger than the Super Bowl, which is normally our biggest event of the year,” said Burns. “We kept taking action, with fluctuating odds for a few days after the election. But now the bet is [no longer available] and we’re hoping for an official decision.”
Bookmakers took a bath in 2016. One bookie, Paddy Power, was so confident that Hillary Clinton would win that it actually paid out on all bets placed on her more than two weeks before the election.
“With national polls showing a healthy lead for the Democratic candidate and Donald Trump’s campaign running into scandal after scandal, Paddy Power believes it’s a done deal and that Hillary is a nailed-on certainty to occupy the Oval Office,” Gambling.com reported Oct. 26, 2016.
That move came as the site’s forecast in the weeks before the election said Clinton had a 70% chance of winning and Trump a 30% shot. So Paddy Power just paid out $1.1 million early.
A truck supporting Donald Trump drives along the Las Vegas Strip shortly after Joe Biden was declared the winner of the 2020 presidential election on November 7, 2020, in Las Vegas. - Democrat Joe Biden has won the White House, US media said November 7, defeating Donald Trump and ending a presidency that convulsed American politics, shocked the world and left the United States more divided than at any time in decades. (Photo by Ronda Churchill / AFP) (Photo by RONDA CHURCHILL/AFP via Getty Images)