Get all your news in one place.
100’s of premium titles.
One app.
Start reading
The Independent UK
The Independent UK
Politics
Adam Withnall

Betters rush to back Clinton as polls suggest she is set to win

Financial markets have already reacted to the latest US election polls with renewed confidence that Hillary Clinton is set for the White House, and it now looks like regular political betters are following suit.

Sporting Index, a UK-based spread betting company, says it has received more money backing the Democrat in the last 24 hours than it did in the entire of October.

Ms Clinton lost a lot of ground in the polls to Donald Trump after the FBI revealed it was reviewing a new set of her emails 10 days ago.

But she has since rallied, particularly after the FBI said there was nothing in the emails to worry about, and most major pollsters are giving her a four or five point lead.

Sporting Index said in a release that its own projections are that Mr Trump will take 24 states bringing him 213 electoral college votes - far short of the 270 required to win.

Ed Fulton, political trading spokesman for Sporting Index, said: “There has been little sign of significant Clinton support over the past month, but we’ve seen a torrent of bets come in the past 24 hours backing Hillary.

“The better-than-Obama early voting results in Nevada, combined with the FBI statement clearing Clinton, has removed many doubt in observers’ minds about the chance of another Clinton presidency.

“If Trump is going to win, he’ll need to turn out millions of disaffected voters to the ballot boxes – or the polls need to be wrong. Clinton would be wise to not count her chickens just yet though, as neither of those scenarios are out of the questions.”

PaddyPower paid out on a Clinton victory in mid-October, while all betting sites appear to agree on one thing - this election has been a record-breaker in terms of the amounts people are willing to put down.

Betfair, another UK-based bookie, told CNBC that by Sunday, roughly $130 million (£105 million) had been traded on who will become the next US president.

The market is expected to surpass Brexit voting, which reached $159 million, spokeswoman Naomi Totten said. And it dwarfs the roughly $50 million laid on the 2012 race.

Ladbrokes said a little over $6 million - about £5 million - had been bet on its 2016 presidential election markets. A spokesman said that was "at least double" what was wagered in 2012.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.