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Bookie Loses Big from Punters Betting on Donald Trump’s Truthfulness
A European bookie has lost hundreds of thousands of dollars to punters who bet on the number of lies Donald Trump told in an Oval Office address.
Everyone can agree that Donald Trump has provided shock value as the US President. And part of that shock value has been the many times that Trump has been found to be bending the truth, or when he has not been entirely aware of the facts.
Tuesday 8 January 2019 will mark one of the most memorable examples for a number of astute gamblers who actually bet on the number of lies that President Trump would tell. Yep, you read that correctly. We all live in a day and age where there is money to be made on whenever Trump stretches the truth!
Odds Given on Trump Lies
In this case, Trump was making an address from the White House’s iconic Oval Office when Bookmaker.eu decided to let punters bet on the US President’s truthfulness. In regard to the bet, punters were asked to answer yes or no as to whether Trump would tell over or under 3.5 lies in his address.
Bookmaker.eu was willing to provide odds of -145 for those backing more than the lucrative 3.5 lies, while the more reserved punters were given +115 for fewer than 3.5 lies. For every $145 staked, those who went for more than 3.5 lies would receive $100 in profit.
Once the address was concluded, Bookmaker.eu consulted the Washington Post's Fact Checker. Ultimately, this revealed that the Washington Post had performed six corrections to Trump’s address, thus ruling in favour of the punters who believed Trump would surpass the 3.5 threshold.
In the wake of the outcome, odds consultant John Lester informed various media outlets that he estimated Bookmaker.eu to have lost more than $276,000. Lester said the bookie did not believe that Trump would lie so often in an eight-minute address. And it has since emerged that Bookmaker.eu accepted wagers of up to $25,000 on the bet.