President Donald Trump. Credit: Jack Gruber-USA TODAY
- On Tuesday night, President Trump gave a prime-time address to the nation from the Oval Office.
- Sportsbooks across the market released a plethora of prop bets, including whether or not Trump would declare an emergency, how long the shutdown will last and what color tie he would wear.
- One prop in particular ended up costing one sportsbook more than $275,000 in losses.
Tuesday night, President Trump made his first prime-time Oval Office address to the nation. Sportsbooks across the market posted a variety of prop bets ranging from whether or not Trump would declare a state of emergency at the southern border, how long his speech would last and even what color tie he would wear.
However, one prop bet in particular ended up costing one sportsbook bigly.
Bookmaker.eu posted a prop on the amount of false statements Trump would tell during his address, setting the over/under at 3.5.
First reported by Buzzfeed News and confirmed by The Action Network, nearly 92% of bettors took the Over, which ranged from -135 odds to more than -250.
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The prop bet was graded based on the Washington Post Fact Checker. In the end, the Post counted six lies, easily sending “over” bettors to Green Dot City.
As a result, Bookmaker had to pay out a whopping $276,424 to bettors who nailed the prop correctly.
“Political props have always been difficult to handicap, but setting a number for the total false statements made in the President’s address may have been one of trickiest numbers that our oddsmakers have had to create,” Bookmaker.eu Odds Consultant John Lester told the Action Network.
“We received a great deal of comments and opinions about our total of 3.5, but in the end, our oddsmakers were not too far off the final result of six total false statements. Never has a president make winning so easy for Americans. 92% of the action favored the over, and the President did not disappoint the public.”