Gambling Sites Delay Payouts In Case Trump Retains Power
Recounts and litigation mean winners could be waiting for a while.Gamblers who made big bets on the results of the U.S. presidential election are still waiting for their money.

News networks on Saturday called the contest for former Vice President Joe Biden, but major betting companies are withholding payouts on hundreds of millions of wagers throughout the world. In the meantime, they’re continuing to take bets as the odds fluctuate and President Donald Trump continues to press his legal case.People have been gambling in record numbers with prediction markets and betting platforms. By the time polls closed on Election Day, London-based betting site Betfair had booked $440 million in wagers on the winner of the presidency, a figure that grew to nearly $600 million by the next day — more than double the $258 million bet on the 2016 contest.

Someone — Betfair won’t say who — placed a $1.32 million bet that would pay out $2 million if Biden wins.

With Trump refusing to concede and votes still being counted in several states — including a recount in Georgia — Betfair has delayed closing out bets. “We will only settle the markets when there is certainty around which candidate has the most projected Electoral College votes, the platform said on its website.”