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The UK’s biggest bookmaker, William Hill, has slashed odds on the US Presidential Election ahead of Wednesday night’s highly anticipated and final debate.
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The pattern Hill recognized that forced them to reduce the odds is one that is eerily similar to that which led up to the Brexit referendum.
Bookmaker William Hill says 71 percent of the money so far staked has been staked on Democrat Hillary Clinton. That being said, 65 percent of the bets by number are for GOP nominee Donald Trump.
William Hill’s spokesman and resident betting expert Graham Sharpe, an industry veteran of 44 years standing, said: “It’s very, very similar to the Brexit vote. There is a metropolitan media bias that says Trump can’t win, but they can’t vote. In betting terms, this is not a done deal. I see parallels with the Brexit vote at this stage.”
He added: “Some of the larger number of small bets on Trump can be explained by odds. When you have odds of 1-8 or 1-9 as you do on Clinton it’s not so interesting to the small punter. You tend to get bigger bets. We had one woman walk into a Northumbrian betting shop to stake £170,000 at 1-8 to win £21,250. She came in the next morning to stake another £13,200 to win £1467. She’d never placed a bet before but said she saw it as an investment.
“Trump at 4-1 or 11-2 will attract the smaller punters. But I don’t think that is only reason for the number of bets on him, and we have had to cut the odds on Trump three times in the last couple of days. This isn’t over.”
- Gilbert Horowitz, Gambling911.com
