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Australian wagering company pays out for incorrect outcome

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An Australian wagering business has actually paid out for the incorrect lead to the country's elections.

Sportsbet gave out more than A$ 1m (₤ 540,000) to those who thought that the opposition Labor Party would win, 2 days before Saturday's vote.

Polls had actually extensively forecasted a Labor win for the first time in six years.

But with most of the votes counted, Prime Minister Scott Morrison, a conservative, is forecasted to win a shock bulk.

The wagering business informed its fans that it has now also paid money to those who predicted that Scott Morrison's Liberal-National would win.

As the results was available in, Sportsbet required to social media to share the yohaig code oversight.

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Sportsbet representative Richard told the Sydney Morning Herald paper: "Seventy per cent of the money staked before the early payout had actually come for Labor, our punters called the election early.

" We believed we 'd simply provide their cash early."

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Bookmakers typically pay out early if they are specific of the result. In some cases where they are sure of the outcome, they pay out to avoid more individuals putting on bets.

It's not the very first time a bookie has actually paid out early.

Paddy Power, an Irish bookie, paid on a Hillary Clinton win the month before the November 2016 elections.

It stated it paid out $1m (₤ 786,290) early to those who bet on Clinton and $4.5 m to those who bank on Donald Trump.

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