How Trump became the "biggest political liability in bookmaking history"

Bookies who already paid-out on Hillary winning are feeling queasy...

The odds of Donald Trump getting to the Oval Office have been slashed since news emerged that the FBI has obtained a warrant to begin looking at the contents of Hillary Clinton's emails as part of a fresh investigation.

In recent days his odds have moved from 5/1 to 11/4 - this comes weeks after Paddy Power paid out over $1m (€880,000) on bets backing Hillary Clinton as she seemed to be pulling away in the two-horse race. Clinton's odds have now drifted to 4/11.

The company concedes that it is feeling "a little queasy" as the polling date approaches.

"We’re not reaching for the rosary beads just yet but we’re certainly not sitting as comfortably as we were when we had paid out. It’s been all one way traffic since the investigation into Hillary’s email server reopened with punters weighing in behind Trump," a spokesperson for the betting firm told Newstalk.

Once the businessman announced that he would seek the Republican nomination betting opened at 100/1. Today the company reflects that it was slow to cut Trump's odds while money poured in behind him and that his performance to claim both the Republican nomination and his late spurt in the polls make him "the biggest political liability in bookmaking history."

If he wins the company faces "a meaty seven-figure payout."

Trump and Brexit

Mr Trump has predicted that US voting will defy opinion polls in the same way that Brexit did, adding that his victory will be "Brexit times five."

Betting markets suggested in June that the 'stay' side was cruising to an easy victory as the vote tallies started.

Paddy Power told Newstalk that Trump betting is different: "We’ve seen some interesting trends (turnover attracted by Trump) that could be attributed to the Brexit result with punters showing less faith in bookies’ odds and polls.

"However, one of the reasons that Brexit failing was so short ahead of the nation going to the polls was that the Punters kept backing the remain side to stay, whereas in this case we’re seeing far more turnover than expected on the outsider."