Gambling sites refuse to call election for Biden, leaving $600 million in limbo – New York Post

Gambling sites refuse to call election for Biden, leaving $600 million in limbo – New York Post

President Trump is not the only one who adamantly refuses to credit Joe Biden with winning the 2020 presidential election.

Honchos at online gambling sites around the world, which take wagers on election outcomes, are also refusing to call Biden president-elect, despite the final tallies in his favor in what’s been called a historically secure election. Now, millions of dollars in gamblers’ wins and losses hang in the balance.

At one site alone, London-based Betfair, nearly $600 million in presidential wagers are hanging tight.

Bookmakers typically have no qualms about coughing up big bucks when Super Bowls go sideways or boxing matches go to hell. In 1990, Buster Douglas shocked the world by knocking out mighty Mike Tyson, defying odds as high as 42-1 and leading one gambler to win $57,000 on a $1,500 wager (before the disparity even peaked). But this time, online gambling sites (which offer a mode of betting that is illegal in the US) are keeping hands in pockets during this month’s commander-in-chief stalemate.

“We still have not graded a winner,” Adam Burns, sportsbook manager of BetOnline, told The Post.

Burns said he’s reserving a decision until Trump exhausts his legal options.

“People who bet Trump say it is not over. People who bet Biden say it is. This makes for a tricky situation where we have to be sure. It’s not like a football game” in terms of there being a clear-cut victor,
Source…