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1 Australian Betting Company Pays For Wrong Result

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Australian betting company pays for wrong result
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An Australian betting business has actually paid for the incorrect lead to the nation's elections.
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Sportsbet gave out more than A$ 1m (₤ 540,000) to those who thought that the opposition Labor Party would win, 2 days before Saturday's vote.

Polls had widely anticipated a Labor win for the very first time in six years.

But with most of the votes counted, Prime Minister Scott Morrison, a conservative, is forecasted to win a .

The betting company informed its followers that it has now likewise paid out cash to those who anticipated that Scott Morrison's Liberal-National would win.

As the results was available in, Sportsbet took to social networks to share the mistake.

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Sportsbet representative Richard Hummerston told the Sydney Morning Herald paper: "Seventy percent of the cash staked before the early payment 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 often pay out early if they are particular of the result. In some cases where they ensure the result, they pay out to avoid more people placing on bets.

It's not the very first time a bookmaker has paid early.

Paddy Power, an Irish bookmaker, paid out on a Hillary Clinton win the month before the November 2016 elections.

It stated it paid $1m (₤ 786,290) early to those who wager on Clinton and $4.5 m to those who bet on Donald Trump.

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