Election Results: Gambler Bets $5M Trump Will Win, Biggest Political Wager Yet

A British gambler has reportedly bet $5 million on President Donald Trump winning on Election Day in what is considered the biggest political wager yet.

The unnamed former banker has taken 37/20 odds, giving him nearly $15 million if Trump wins against Democratic presidential nominee Joe Biden. The British gambler used private bookmakers on the Caribbean Island of Curacao.

"Word of this bet has done the rounds, and we think it's the biggest ever made on politics," a betting industry source told The Sun.

According to the British publication, the mystery ex-banker had consulted "Trump camp insiders" before he confidently went all-in.

Many have placed last-minute bets on the U.S. election. GVC Holdings PLC, one of the world's largest gambling firm, said this year's stakes had surpassed bets placed in 2016, 'making it the biggest political event ever.'

Paddy Power, an Irish bookmaker, revealed that a vast majority of wagers placed in the last 24 hours were in support of Trump. British bookmaker Betfair exchange said an unnamed better had placed $1.29 million on Biden winning the election over the weekend.

Ladbrokes, a British gambling firm, revealed that three in four bets predicted that Trump would be re-elected, Metro reported.

At least 71% of the money wagered in the last four hours was placed on Trump, OddsChecker reported Tuesday.

The 2020 U.S. election has become of the biggest betting political event. One British gambling firm had already taken $393 million.

"The 2020 election is following a very similar betting pattern to the one we witnessed back in 2016. The closer we got to election day, the more money came for Donald Trump," Sam Eaton, Oddschecker's Head of Marketing, said.

Trump's campaign officials said they are confident that the president will win against Democratic challenger Biden after an internal data allegedly showed a surge of Republican voters.

According to campaign manager Bill Stepien, the data showed a massive turnout of Republican votes on Election Day and a depressed turnout for the Democrats, Politico reported.

"With the lack of a ground game on the Biden side, they left a ton of votes on the table and we are driving votes today," Stephen said. "They were very much hoping to slam the door shut on Pennsylvania, Florida, Wisconsin and Arizona — that simply hasn't happened."