London (CNN Business)The US election still hasn't ended for one person who bet £1 million ($1.3 million) on Joe Biden to be the next president. The US presidential election was by far the biggest single event in the platform's history. All rights reserved. Disclaimer. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Most election wagers are … Balancing coverage of the lame duck and the president-elect, Another 778,000 Americans filed initial jobless claims, Furloughed server: I'm frustrated the government isn't doing much, Wrongful death lawsuit filed against Tyson Foods, Greenspan on Covid crisis: I've never seen anything like this, Thousands line up for groceries at Dallas food bank, What it could take to deliver a Covid-19 vaccine to the world, Party City CEO: Consumers still want to celebrate together, See how Texans are fighting to keep their businesses alive, Asian Americans facing historic unemployment during pandemic, 'Have to laugh to keep from crying': Business owner struggling amid pandemic, This fourth-grader doesn't have WiFi at home. Licence Number: MGA/CL2/294/2006 12 March 2013, and for customers in the UK, licensed and regulated by the Gambling Commission, Licence Number: 000-039439-R-319330-007. So he walks to school, This company makes sure you never run out of coffee, Restaurant owner: We're back where we started in March, Here's how a Covid-19 vaccine could help the global economy, Broadway worker: My career of 15 years vanished overnight, Someone in the UK just put down a million-pound bet on Joe Biden. Please also be aware that other Betfair customers may have access to data that is faster and/or more accurate than the data shown on the Betfair site. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. The bookmaker (Betway) takes less risk but will take a small percentage of winnings. Bets would typically be settled following a result declaration from news networks and a concession speech by the losing presidential candidate, "We will only settle the markets when there is certainty around which candidate has the most projected Electoral College votes," Betfair said in an article posted to its website on Friday evening. On Betfair Exchange, you can either back (bet for) or lay (bet against) any outcome. LONDON (Reuters) - Betfair suspended betting on the outcome of the U.S. election on Friday, according to its website, after President Donald Trump said he tested positive for COVID-19. The contest has so far attracted £567 million ($744 million) in bets, making it the largest event of any kind in the platform's 20-year history. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. Licence Number: MGA/CL3/454/2008 17th March 2015, Triq il-Kappillan Mifsud, St. Venera, SVR 1851, MALTA. Updated 1317 GMT (2117 HKT) November 9, 2020. A betting exchange (Betfair Exchange, PredicIt) lets people bet against each other. The US election still hasn't ended for one person who bet £1 million ($1.3 million) on Joe Biden to be the next president. US Election: Betfair market settlement scenarios Join today View market For all the latest odds and betting tips on US politics, including regular election updates and analysis from Paul Krishnamurty To help personalise content, tailor your experience and help us improve our services, Betfair uses cookies. Bet on 2020 US Presidential Election - Next President and choose among options like Joe Biden, Donald Trump, Kamala Harris, Mike Pence, Tim Kaine and more. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. "Before settling the markets, we must therefore wait for clarity around ongoing vote counts, recounts and any potential legal challenges to the results.". All rights reserved. The second didn't seem to accept betting on the US election. Our impartial markets are set by punters, not bookies. For customers in the UK, TSE Malta LP is licensed and regulated by the Gambling Commission, Licence Number: 000-039561-R-319411-005. Factset: FactSet Research Systems Inc.2018. Bookmakers in Britain suspended betting on the outcome of the U.S. election on Friday after President Donald Trump said he had tested positive for COVID-19. Betfair International Plc is licensed and regulated by the Malta Gaming Authority. Ladbrokes, Irish-based Paddy Power as well as online gambling exchange Betfair were among firms to halt all betting on the Nov. 3 contest. Read about our star politics columnist Paul Krishnamurty who will be providing tips and analysis in the run up to the US presidential election in November... For all the latest odds and betting tips on US politics, including regular election updates and analysis from Paul Krishnamurty. 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