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Australian betting company pays out for incorrect result
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An Australian betting business has paid out for the wrong result in the country's elections.
Sportsbet handed out more than A$ 1m (₤ 540,000) to those who thought that the opposition Labor Party would win, two days before Saturday's vote.
Polls had widely anticipated a Labor win for the very first time in six years.
But with the majority of the votes counted, Prime Minister Scott Morrison, a conservative, is predicted to win a shock bulk.
The betting business told its followers that it has actually now also paid cash to those who anticipated that Scott Morrison's Liberal-National would win.
As the outcomes came in, Sportsbet required to social media to share the yohaig code mistake.
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Sportsbet representative Richard Hummerston informed the Sydney Morning Herald paper: "Seventy percent of the cash staked before the early payment had actually come for Labor, our punters called the election early.
" We believed we bet9ja's welcome offer them their money early."
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Bookmakers typically pay early if they are specific of the result. In some cases where they are sure of the yohaig code outcome, they pay out to avoid more people putting on bets.
It's not the very first time a bookie has paid out early.
Paddy Power, an Irish bookmaker, paid on a Hillary Clinton win the month before the November 2016 elections.
It said it paid out $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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Australian Betting Company Pays out For Wrong Result
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