Paddy Power Red Faced After Losing $1m In Early Clinton Win Payouts

Pete - Wednesday, November 9, 2016, Written by- Wednesday, November 9, 2016, Live poker

Bookmaker Paddy Power is feeling the sting from their own bravado, after paying out $1m to Hillary Clinton supporters early, so confident were they that there was no chance that Donald Trump would upset the odds to win the election. In total the Republican candidate's victory has cost them a cool $4.5m.

On their blog Paddy Power opened today's post title with "Paddy's Been Trump-ed!". The blog goes on to blame the FBI's recent reopening of their investigation against Hillary Clinton for the public vote going against her. However, in a previous blog, the writer noted that although the odds were slightly affected by the investigation, that they still had Clinton as an 70% favourite to take over the Presidency from Barack Obama.

In any case, Paddy Power didn't seem to disheartened by the big loss and the $1m "giveaway" to those who bet on Clinton with PP spokesperson, Feilim Mac An lomaire saying "We're in the business of making predictions and decided to put our neck on the live by paying out early on Hillary Clinton, but boy did we get it wrong. We've been well and truly thumped by Trump with his victory leaving us with the biggest political payout in the comapny's history and some very, very expensive egg on our faces,"

The blog also joked that the payout has "left serious question marks over our company's Christmas party".

No doubt the additional exposure the company will have garnered from the backfired early pay-out will be seen as come first class free publicity for the unfortunate bookie.