Sportsbet said, 'Bill Shorten lost the unloseable election.' An Australian gaming company made a huge mistake when it paid out proposition bets on last Saturday's national election. Sportsbet paid out AU$1.3 million for those who wagered on the Labor Party's Bill Shorten two days before Prime Minister Scott Morrison won re-election. Ohio St/Alabama Under 16.5 +125 First Qtr Winner. Pittsburgh +10 Winner. ATL/TB Over 50 Winner. Carolina +6 Loser. Bet on premier Australian, New Zealand & International thoroughbred horse races, including the Melbourne Cup, Spring Carnival and more. Join Australia's Favourite Online Betting and Entertainment.
The Coalition will form government after a shock result in the federal election. The only question is how did all the polls get it wrong?...
The Coalition will form government after a shock result in the federal election. The only question is how did all the polls get it wrong?
A meme created by Sportsbet.Source:Supplied
Millions of Aussies were left with their head in their hands over the weekend as the Coalition pulled off a miracle win.
But none more so than betting agency Sportsbet who, by last night, had paid out more than $5 million to election punters.
The agency, and most of Australia, was so sure of a Labor win it opted to reward punters two days ahead of the votes being counted.
Over $1.3 million was paid out to those who threw money behind Bill Shorten and the Labor Party.
😬#Ausvotes#Ausvotes2019pic.twitter.com/4hy24TB09T
— Sportsbet.com.au (@sportsbetcomau) May 18, 2019It's worth noting one of the main reasons betting agencies pay out punters early is so they reinvest the money into another event, a tactic that has proved extremely successful.
But the real loss to the agency came from paying out those who bet on Scott Morrison and the Coalition to win.
At one point, odds on the Coalition had hit $7.50.
Seven out of every 10 bets relating to the federal election were put on Labor winning, with Sportsbet previously boasting that punters had backed the party into 'Winx-like odds of $1.16'.
Despite the multimillion-dollar hit, the betting agency sees the humour in its huge loss.
Tough day at work for Gal. We know how you feel mate! #NRLSharksManly#auspoIpic.twitter.com/T8ajzBQarU
— Sportsbet.com.au (@sportsbetcomau) May 19, 2019This didn't age well...#ausvoteshttps://t.co/QHSot5rmbe
— Sportsbet.com.au (@sportsbetcomau) May 18, 2019Same as the bookie who paid out early on Labor 😬😬😬 https://t.co/NmBvDd3bGY
— Sportsbet.com.au (@sportsbetcomau) May 18, 2019Sportsbet markets had previously predicted Labor would claim 82 seats in the election, leaving the Coalition with 63.
Instead, the Coalition has won 75 seats with potentially more wins to come.
'The quality of toilet paper and stationery will need to be significantly decreased at the Sportsbet offices to cover these costs, and we can only keep the heaters on for two hours a day, but in the end, we have a result where most of our punters on a market are winners,' Sportsbet spokesman Richard Hummerston told The Age and SMH.
The betting agency also saw the bright side of the situation, taking a jab at billionaire mining magnate Clive Palmer who poured $80 million of his own fortune into the election but failed to see success.
Yep, we blew $1.3million
Could have been $80million though eh Clive?#ausvotes#Ausvotes2019pic.twitter.com/R8kG9GqK5q
As Sportsbet sits licking its wounds, spare a thought for a NSW man who instead put his money into a Ladbrokes bet, an agency that did not pay out early.
The anonymous punter put $1 million on a Labor win and could've won $230,000 if Mr Shorten was successful.
The bet, the largest in Ladbrokes history, instead went into the agency's pocket.
Labor had entered the race grappling with a low popularity rating for Mr Shorten, a 52-year-old former union boss widely seen as having a pallid personality.
Rather than frame the election as a battle between him and the more outgoing Mr Morrison, Labor strategists instead pushed a broad platform of policies.
'I'm disappointed for people who depend upon Labor, but I'm glad that we argued what was right, not what was easy,' Mr Shorten told supporters.
Mr Shorten would have been Australia's sixth prime minister in six years had he been elected.
Handicapper
Youngstown Connection
MLB
2020
7-3 +3.31 units
2019
18-12 +4.06 units
Sports Bet Teatime Results
2018
23-6 +16.96 units
2017
52-46-3 -1.26 units
2016
44-22-1 +21.85 units
2015
57-37-4 +14.22 units
NFL
2020-2021
22-17-2 +3.45 units
2019-2020
35-19-3 +13.95 units
2018-2019
41-22-1 +16.8 units
2017-2018
25-21-1 +2.05 units
2016-2017
40-20-1 +18.05 units
2015-2016
34-29-4 +2.45 units
2014-2015
41-29-1 +8.35 units
NCAA FB
2020-2021
16-19-2 -4.65 units
2019-2020
31-29 -0.5 units
2018-2019
40-28-3 +9.3 units
2017-2018
35-28-4 +4.55 units
2016-2017
28-28-3 -2.8 units
2015-2016
49-26-1 +20.45 units
2014-2015
57-28-2 +26.2 units
NBA
2019-2020
2-1 +1.1 units
Sportsbet Sports Results
2018-2019
13-9 +3.1 units
2017-2018
12-5 +6.5 units
2016-2017
11-10 +0 units
NCAAB
2020-2021
2-1 +.9 units
2019-2020
52-33-2 +15.7 units
2018-2019
72-71-3 -6 units
2017-2018
58-32-2 +22.8 units
2016-2017
55-40-4 +12 units
2015-2016
71-56-1 +12.7 units
2014-2015
87-65-4 +15.52 units
2013-2014
130-74-3 +48.6 units
NHL
2019-2020
1-4 -4.80 units
2018-2019
17-13 +3.5 units
Overall
3257-2236-112 +788.76 units
All selections based on 1 unit
Copyright 2008-2020 SportsBetAdvisors
All Rights Reserved
