Trump antics spark betting boom

Bookmakers suffered massive losses after his surprise election victory

Trump antics spark betting boom

Pool/ABACA/ABACA/PA Images

Irish bookmaker Paddy Power announced a few days ago that the level of interest in political bets on Donald Trump's Presidency means that it needs to hire a 'Head of Trump betting.' His political career has sparked a mini-Boom in the political betting market.

Paddy Power Betfair included a special note on the US election in a recent trading statement - it faced a €4.1m pay-out on winning Trump bets after it already paid-out some €880,000 to Clinton backers (when it thought that she was too far ahead to lose).

The Trump job is a three-month gig to manage a new hub specifically built for Trump markets.

"In the first 24 hours of the job ad being live, we received hundreds of applications, from across the world – including Pennsylvania, Washington DC, New York, Australia, South Africa and France. We hope to find the right candidate and employ them as soon as possible," the company told Newstalk.

A spokesperson added that at this point in Barack Obama's time in office there had been "less than 2%" of the volume of bets which have been put on Trump markets with the Irish bookmaker.

The company reports that there has been significant movement in its market on whether the FBI will confirm that there was collusion between the Trump campaign and Russia (the odds of which are narrowing) - and a surge in bets on the construction of a wall between the US and Mexico beginning before the end of 2017.