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Sportsbet’s costly error

An expensive night for Sportsbet, which has had to pay out both Labor and Liberal punters.

Brighette RyanBrighette Ryan
@brighetteryan
less than 2 min read
12:16AMMay 19, 2019
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Australian Prime Minister Scott Morrison proved very costly for Sportsbet this evening. Picture: AAP
Australian Prime Minister Scott Morrison proved very costly for Sportsbet this evening. Picture: AAP

It has been an expensive federal election night for betting agency Sportsbet, which has had to pay out both Labor and Liberal punters.

On Thursday, the agency opted to pay out all bets on Labor, in a strong signal the race was already over.

Over $1.3 million was paid out to those who threw money behind Labor and its leader Bill Shorten, with someone walking away with a $128,000 win.

But tonight the Coalition clinched the victory, in a move few saw coming.

As the votes came in and the result became more clear, so too did Sportsbet’s terrible financial decision.

The betting agency didn’t shy away from the awkward situation though, instead taking to social media to poke fun at itself.

No word from the unlucky punter who put $850,000 on Labor winning. Ouch.

Brighette Ryan
Brighette RyanWeekend Digital Editor

Brighette Ryan is The Australian's digital night editor. She was previously Social Media Editor, leading the paper's social media strategy across platforms including Facebook, Twitter and Instagram. Brighette has also worked as a producer for 2SM and as a social media producer for the Nine Network.

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Original URL: https://www.theaustralian.com.au/nation/politics/sportsbets-costly-election-error/news-story/a4afb5b0d56707ea70e5d07647c28ac7