The New York Post has learned today that many gamblers who put serious money down on the 2020 election, are still waiting on the results of the battle between Democratic nominee, Joe Biden, and Donald Trump, which the media widely reported as a win for Biden.
As most know, this also comes at a time when Trump and his campaign lawyers have been filing lawsuits against the United States government, including state governments like Pennsylvania. Trump and his team have alleged that he lost the election due to voter fraud and mail-in ballots.
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Reportedly, internet gambling sites saw a massive amount of bets on the 2020 election, but the sites still haven’t called it for Joe Biden, who, in fact, hasn’t been named as the president-elect yet. The outcome of the election, while the media and other pundits have said it’s over, still depends on a number of legal proceedings and challenges.
Either way, because gambling sites haven’t named either party as the winner, hundreds of millions of dollars have been left up in the air. For instance, the New York Post says one website, Betfair, from the United Kingdom, has $600,000,000 in limbo.
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Adam Burns, the sportsbook manager of BetOnline said to reporters from the Post that the presidential election between Joe Biden and Donald Trump was one of their biggest events ever. According to Burns, they’re still waiting on Trump to burn through all of his legal options.
Moreover, he explained how the people who bet on Trump say it’s going to be called for him, and those who voted for Biden think it’s already over. It isn’t like a “football game,” Burns explained, where one team is clearly a winner of another.
As for how Adam and his team did during this election, he claimed their businesses earned over 7 figures just based on the 2020 election alone. He added, “the presidential election was bigger than the Super Bowl,” which is typically their biggest day of the year.
He stated that their customers favored Trump by a lot, and if Joe Biden doesn’t win, it will “not be a happy day here.”