Property tycoon Vincent Tchenguiz placed a bet that Donald Trump would win the presidential election and now looks to collect a massive $1.5 million payout.
While betting on the results of the election in the United States is illegal, the election was the “single biggest betting event ever” for some British gambling sites, according to Metro.co.uk.
Tchenguiz put down $440,000 with online brokers Betfair and Spreadex and now stands to make an overall profit of $1.16 million.
“I’m surprised by how everybody is stunned that [Trump] actually won,” the London-based billionaire said as the results came in. “I didn’t think that it was so black and white. But people are so shocked — I should have got much better odds.”
He stayed up watching the election on CNN, but thought Clinton looked set to take it early on as polls gave her a narrow lead. “I was about to go to sleep,” he said. “Then I switched on to Fox News and I thought no, she’s not winning, it’s almost equal. So I carried on watching a little longer.”
Tchenguiz wouldn’t say that he was happy to be able to collect a winning bet, but did admit that he agrees with most of Trump’s policies while predicting a coming year of change.
“Am I happy? I’m not going to comment, happy or not happy,” he told Metro. “We’ll see where it goes. Some of his policies are pretty good, some he will have to tone down. […] There is going to be a lot of change.”
“He wants to bring the jobs back and renegotiate trade agreements,” He continued. “Europe has the same problem, with jobs going to China and the Far East and no economic growth.”
Several online brokers said that this election was their biggest ever political betting event, including Spreadex and William Hill. “It’s official, the US election is now our single biggest betting event ever and we are seeing some huge bets being placed, including one customer who has staked [$250,000] on a Trump victory,” said Conner Campbell, a financial analyst at Spreadex.
H/T [Daily Caller]