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Australian betting company pays out for wrong result
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An Australian betting company has paid for the yohaig code incorrect lead to the nation's elections.
Sportsbet distributed more than A$ 1m (₤ 540,000) to those who believed that the opposition Labor Party would win, two days before Saturday's vote.
Polls had commonly forecasted a Labor win for the very first time in 6 years.
But with most of the yohaig code votes counted, Prime Minister Scott Morrison, a conservative, is projected to win a shock majority.
The betting business informed its fans that it has now also paid out cash to those who predicted that Scott Morrison's would win.
As the results can be found in, Sportsbet required to social media to share the yohaig code mistake.
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Sportsbet spokesperson Richard Hummerston told the Sydney Morning Herald paper: "Seventy percent of the cash staked before the early payout had actually come for Labor, our punters called the election early.
" We thought we 'd simply provide their money early."
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Bookmakers frequently pay out early if they are particular of the outcome. In many cases where they are sure of the outcome, they pay out to avoid more people putting on bets.
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It's not the very first time a bookmaker has actually paid early.
Paddy Power, an Irish bookmaker, paid on a Hillary Clinton win the month before the November 2016 elections.
It stated it paid $1m (₤ 786,290) early to those who bet on Clinton and $4.5 m to those who bank on Donald Trump.
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Australian Betting Company Pays out For Wrong Result
txbphilomena16 edited this page 2 months ago