Viktor Orban Concedes Defeat as Péter Magyar Becomes Next Prime Minister of Hungary: Payout Odds Were Once 2-1

Péter Magyar will become the next prime minister of Hungary after opening at 2-1 odds.  His odds coming into Sunday's election were closer to -250. 

Hungary’s current Prime Minister Viktor Orbán has conceded defeat after calling opposition leader Magyar to congratulate him, Magyar said, as partial election results showed Magyar’s opposition TISZA party on course to win a parliamentary supermajority.

As of 9:30 p.m. local time on Sunday (3:30 p.m. ET), Hungary’s National Election Office showed TISZA winning 136 of the country’s 199 parliamentary seats, with national processing at 60%. Orbán’s ruling Fidesz-KDNP alliance was on 56 seats, while the far-right Mi Hazánk party was on 7.

A two-thirds supermajority in Hungary’s parliament requires 133 seats, putting TISZA above that threshold and in position to amend the constitution without support from other parties.

“Prime Minister Viktor Orbán has just called to congratulate us on our victory,” Magyar said in a social media post as the results were still coming in.

Sportsbooks and prediction markets were expected to grade these wagers by Sunday evening. 

• T.C. Jackson, Gambling911.com