Australian wagering business pays out for incorrect outcome

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An Australian wagering company has paid for the wrong lead to the country's elections.

gave out more than A$ 1m (₤ 540,000) to those who thought that the opposition Labor Party would win, 2 days before Saturday's vote.

Polls had actually commonly forecasted a Labor win for the first time in 6 years.

But with the majority of the votes counted, Prime Minister Scott Morrison, a conservative, is predicted to win a shock majority.
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The wagering company told its followers that it has actually now also paid money to those who predicted that Scott Morrison's Liberal-National would win.

As the outcomes was available in, Sportsbet required to social networks to share the oversight.

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Sportsbet spokesperson Richard Hummerston informed the Sydney Morning Herald newspaper: "Seventy percent of the cash staked before the early payment had come for Labor, our punters called the election early.

" We thought we 'd just bet9ja's welcome offer them their money early."

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Bookmakers typically pay out early if they are specific of the result. In some cases where they are sure of the outcome, they pay out to prevent more individuals putting on bets.

It's not the very first time a bookmaker has paid early.
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Paddy Power, an Irish bookie, paid on a Hillary Clinton win the month before the November 2016 elections.
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It stated it paid $1m (₤ 786,290) early to those who bet on Clinton and $4.5 m to those who bet on Donald Trump.

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