Australian wagering company pays out for wrong result

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An Australian wagering company has paid for the incorrect lead to the country's elections.
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Sportsbet handed 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 extensively anticipated a Labor win for the very first time in 6 years.

But with the majority of the votes counted, Prime Minister Scott Morrison, a conservative, is projected to win a shock majority.
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The betting business informed its followers that it has now also paid cash to those who anticipated that Scott Morrison's Liberal-National would win.
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As the results was available in, Sportsbet took to social media to share the .

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

" We thought we 'd simply provide their money early."

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Bookmakers typically pay early if they are particular of the result. Sometimes where they ensure the result, they pay out to prevent more individuals putting on bets.

It's not the very first time a bookmaker has actually paid early.

Paddy Power, an Irish bookmaker, paid on a Hillary Clinton win the month before the yohaig code 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 wager on Donald Trump.

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