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. For any other Betfair-related queries, contact the helpdesk, Same Game Multi Tips: Best Goalscorer and Bookings bets for Premier League GW10, Rivaldo Exclusive: I was a big fan of Maradona and he was an inspiration to me, Brighton v Liverpool: Flock to in-form Jota at Seagulls, Joseph O'Brien: Hoping for a Star performance at Fairyhouse, Saturday Racing Tips: Tony Calvin's hoping to have a Right good day at Newbury, Gordon Elliott: Fiston Des Issards can end Saturday Fairyhouse trip in style, Hawk Eye on South Africa v England First T20: Ngidi and Malan fit the bill, South Africa v England T20 Tips: England may need to step on the gas, Graeme Swann: Jos Buttler is magic but I don't see why he has to open for England, ATP Tour Finals Tips: Medvedev can inflict second successive final defeat on Thiem, ATP Tour Finals Thursday Tips: Nadal a solid favourite for must-win clash, ATP Tour Finals Day Two Tips: Djokovic and Medvedev justified favourites, The Punter's In-Play Blog: Meronk moves clear at Leopard Creek, Golf Tips: Our experts' best bets for the Alfred Dunhill Championship, Alfred Dunhill Championship First-Round Leader Tips: Back Besseling on the Bermuda, US Election: Betfair market settlement latest, US Election Latest Odds: Biden strong favourite but Trump claims win, US Election Odds: Six trading tips for the biggest ever night of live political betting, I'm A Celebrity... Latest Odds: Jordan to win and Hollie to be eliminated, Strictly Latest Odds: Bill Bailey shortest price yet as Maisie Smith survives again, SPOTY Betting: Hamilton back to odds-on favourite after becoming seven-time world champ, Timeform Greyhound SmartPlays: Classy Stardom will be hard to beat, Timeform Greyhound SmartPlays: A Bit of Red can resume winning ways, Timeform Greyhound SmartPlays: Sophies Ace can bounce back, NFL Tips: Mike Carlson says overs is week 12 value in Mile High City, NFL Thanksgiving Tips: Dallas to make holiday show against Washington, Los Angeles Rams @ Tampa Bay Buccaneers: Top defences battle in playoff preview, UK Championship Snooker Daily Tips: In-form Zhou rates best of the Saturday bankers, UK Championship Snooker Tips: One player to back from each quarter, Grand Slam of Darts Final Tips: De Sousa will win maiden major, US Election Odds and Review: Projected result vindicates betting markets, UK Politics Latest Odds: What Johnson and Starmer can learn from Biden, US Election Live Blog: All the latest as votes are counted in key states, US Election Latest Odds: Biden victory 85% likely as counting continues, US Election Latest Odds: Donald Trump closing the gap on Joe Biden, 2020 Election Latest Odds: Forget 2016, in politics the favourite usually wins, US Election Latest Odds: Betfair account bets £1m on Biden to beat Trump, US Election: Betfair market settlement scenarios, Goal In-Play: The live Champions League show with Glen Johnson, The Football Furlong: Andy Goldstein meets Paul Nicholls, Goal In-Play: The Live Premier League show, In-running betting on Horse Racing: Five things you need to know.