Australian wagering business pays for incorrect result
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An Australian betting business has paid out for the wrong lead to the country's elections.
Sportsbet gave out more than A$ 1m (₤ 540,000) to those who believed that the opposition Labor Party would win, 2 days before Saturday's vote.
Polls had commonly predicted a Labor win for the very first time in six years.
But with many of the votes counted, Prime Minister Scott Morrison, a conservative, is projected to win a shock majority.
The wagering company told its followers that it has now also paid cash to those who anticipated that Scott Morrison's Liberal-National would win.
As the yohaig code outcomes came in, Sportsbet required to social networks to share the yohaig code oversight.
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Sportsbet spokesperson Richard Hummerston told the Sydney Morning Herald newspaper: "Seventy per cent of the cash staked before the early payout had come for Labor, our punters called the yohaig code election early.
" We thought we 'd merely provide their cash early."
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Bookmakers frequently pay out early if they are particular of the outcome. In some cases where they are sure of the result, they pay out to prevent more individuals placing on bets.
It's not the very first time a bookie has paid early.
Paddy Power, an Irish bookie, paid on a Hillary Clinton win the month before the November 2016 elections.
It stated it paid $1m (₤ 786,290) early to those who bank on Clinton and $4.5 m to those who bank on Donald Trump.
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