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Australian wagering business pays for wrong result
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An Australian wagering business has paid for the incorrect outcome in the nation'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.
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Polls had actually commonly forecasted a Labor win for the first time in 6 years.

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

The told its fans that it has actually now also paid out cash to those who predicted that Scott Morrison's Liberal-National would win.

As the results came in, Sportsbet required to social media to share the yohaig code mistake.

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

" We believed we 'd just provide them their cash early."

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Bookmakers often pay out early if they are certain of the result. Sometimes where they ensure the outcome, they pay to prevent more individuals placing on bets.

It's not the 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.
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It said it paid out $1m (₤ 786,290) early to those who bank on Clinton and $4.5 m to those who wager on Donald Trump.

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Published

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