British man bets whopping $5million on Donald Trump to win US election in 'largest ever political wager'

British man bets whopping $5million on Donald Trump to win US election in 'largest ever political wager'

A BRITISH businessman has put $5 million (€4.3 million) on Donald Trump to win the presidential election in what is believed to be the largest political bet ever made.

The mystery man, who is understood to be a rich former-banker, took a punt on 37/20 odds at a private bookies registered on the Caribbean island of Curacao.

According to The Sun, the businessman spoke with "Trump camp insiders" before placing the bet, which could see him win an eye-watering $14.8 million (€12.6 million) should the President claim victory in today's election.

A betting industry source said: "Word of this bet has done the rounds and we think it's the biggest ever made on politics."

While Biden remains favourite to win, bookies in the UK are reporting that the vast majority bets made in the last 24-hours have been for Trump.

Paddy Power say that in the last day, a staggering 93% of election wagers have backed Donald Trump to get a second term.

Ladbrokes' Jessica O'Reilly said: "Biden looks home and hosed according to the bookies and pollsters, but even at the eleventh hour punters are continuing to back Trump at the odds on offer."

There are still some sizeable bets being placed on a victory for Biden though.

Betfair Exchange said that an unnamed person in the UK placed £1 million (€1.1 million) over the weekend on Biden securing a win.

The UK-based betting company noted that betting has exploded for this year's election, with twice as many wagers being placed than in the 2016 vote.

According to Betfair, the Biden-Trump election is set to be the biggest gambling event of all time, with more than $400 million (€342 million) projected to be wagered by the end of Tuesday.