Ladbrokes Stands to Lose Millions With a Trump Presidential Win: Kasich Drops Out
Online bookmakers, including those based in Europe, stand to lose a significant amount of money with a long shot like real estate magnate Donald Trump winning the US Presidency.
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“From Ladbrokes point of view, we have a bit of a liability on Trump as the nominee (he opened up at 50/1) but it’s peanuts compared to how much we’d lose right now if he became President,” Ladbrokes Head of Political Betting Matthew Shaddick told SBC News just prior to Texas Senator Ted Cruz dropping out of the race.
Trump became the presumptive Republican nominee and this will likely become official now that Ohio Governor John Kasich was set to confirm his campaign’s suspension Wednesday evening.
Chairman of the Republican Party, Reince Prebus tweeted out Tuesday:
.@realDonaldTrump will be presumptive @GOP nominee, we all need to unite and focus on defeating @HillaryClinton #NeverClinton
Star Sports’ Jamie Loughead said of this season’s political betting action, “The entrance of a wildcard attracts punters to the betting markets generally because the contests become more exciting, but exchange layers tend to act more conservatively- draining markets of liquidity. Traditional bookmakers like myself are always happy to lay a decent bet on contests like this, regardless of the curve balls of a Trump or Corbyn but know that we have to work ten times as hard to keep abreast of developments when there’s a wildcard in the running!”
- Gilbert Horowitz, Gambling911.com
