Man's record $1.6 million bet on Scottish referendum
A British businessman is betting nearly more than $1.6 million (£900,000) that Scotland will vote "no" to independence.
In June, the unidentified Londoner placed a $731,000 wager (£400,000) at one-to-four odds on Scotland remaining part of the Union, and three additional bets (at 1/5 and 1/6) over the summer, making it the biggest amount ever gambled on the outcome of a political event in the UK, reported the Telegraph.
He stands to collect about nearly $2 million (£1,093,333), a profit of about $353,000 (£193,333), if Scotland votes "no."
The "responsible gambler" is "confident, if not entirely convinced, that his gamble will pay off," a spokesman for bookmaker William Hill, told the newspaper. "In fact, he has called it an ‘investment.'”
According to Oddschecker.com, a site that tracks online betting sites, most gamblers believe Scotland will vote "yes" to the referendum, with 58 per cent taking nine-to-two odds for that outcome.
The rest (42 per cent) are getting one-to-five odds on the union remaining intact.
Latest polling shows a tight race, with 52 per cent of Scots voting "yes" to independence, and 48 percent voting "no."
Earlier this month, Matthew Shaddick, head of political betting for Ladbrokes, predicted the referendum would "be the biggest political betting event ever."
"It's been huge," Shaddick told Yahoo News UK. "It's been way, way bigger than we anticipated. We're talking millions. Across the whole market we're talking tens of millions. It's been ginormous."
