Australian Betting Company Pays out For Wrong Result

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Australian betting company pays for incorrect outcome

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An Australian betting company has paid out for the wrong outcome in the nation's elections.

Sportsbet distributed 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 commonly predicted a Labor win for the first time in six years.

But with the majority of the votes counted, Prime Minister Scott Morrison, a conservative, is projected to win a shock bulk.

the yohaig code betting company informed its fans that it has now also paid out 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 blunder.

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Sportsbet representative Richard Hummerston informed the Sydney Morning Herald paper: "Seventy per cent of the money staked before the yohaig code early payment had actually come for Labor, our punters called the election early.

" We believed we 'd simply provide them their money early."

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Bookmakers frequently pay out early if they are particular of the outcome. In many cases where they are sure of the outcome, they pay to avoid more people putting on bets.

It's not the yohaig code first time a bookmaker has paid out early.