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Australian betting company pays out for incorrect outcome

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An Australian betting company has paid out for the wrong outcome in the yohaig code nation’s elections.

Sportsbet handed out more than A$ 1m (₤ 540,000) to those who believed that the opposition Labor Party would win, two days before .

Polls had actually widely anticipated a Labor win for the very first time in 6 years.

But with the majority of the votes counted, Prime Minister Scott Morrison, a conservative, is forecasted to win a shock bulk.
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The betting company told its followers that it has actually now also paid out money to those who anticipated that Scott Morrison’s Liberal-National would win.

As the outcomes came in, Sportsbet required to social networks to share the oversight.
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Sportsbet spokesman Richard Hummerston informed the Sydney Morning Herald newspaper: “Seventy per cent of the yohaig code money staked before the early payment had come for Labor, our punters called the election early.

” We believed we ’d merely provide them their cash early.”

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Bookmakers often pay out early if they are certain of the outcome. In some cases where they ensure the outcome, they pay to prevent more individuals putting on bets.
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It’s not the first time a bookie has actually paid out early.
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Paddy Power, an Irish bookie, paid out on a Hillary Clinton win the month before the November 2016 elections.

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

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