Irish bookmaker Paddy Power loses $990,000 after paying out early to customers who bet on Hillary Clinton

Hillary Clintons loss meant a loss for Paddy Power.
(Image credit: BRENDAN SMIALOWSKI/AFP/Getty Images)

Not too many people can say they saw Donald Trump's win coming, least of all bookies. Having assumed Hillary Clinton would win the election, Irish bookmaker Paddy Power actually paid out £800,000 (over $990,000) early to customers who bet on her, The Independent reports.

"We're in the business of making predictions and decided to put our neck on the line by paying out early on Hillary Clinton, but boy did we get it wrong," a Paddy Power spokesman told The Guardian. "We've been well and truly thumped by Trump, with his victory leaving us with the biggest political payout in the company's history and some very, very expensive egg on our faces."

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us
Jeva Lange

Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.