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Who Won? Bookies Don't Care</A>
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Who Won? Bookies Don't Care

by Joanna Glasner



12:15 p.m. Nov. 10, 2000 PST      An ocean away from this most chaotic
spectacle that is the U.S. presidential election, operators of a prominent
British political betting house are enjoying the show.

"To be brutally honest, we don't really mind. We make money regardless of
which of them wins," said Graham Sharpe, spokesman for William Hill
International, a Yorkshire bookmaker that takes wagers on electoral races and
sporting events.


For the dead-heat presidential race of 2000, the bookmaker collected $750,000
in bets over a period of more than two years. On the eve of Election Day, the
final tally placed Texas Gov. George W. Bush as the favorite.

The way the spread worked at the close of betting, a $2 bet placed on Bush
would pay back just $3 if he won, while the same amount bet on Gore would pay
back $5. Whatever the outcome, the bookmaker gets a small cut of the overall
proceeds.

Of course, the only problem with that scenario thus far is there hasn't been
an outcome.

Officials at William Hill -- which collected nearly a third of its wagers
from online bettors, mostly based in the U.S. -- are still about as clueless
as a Florida election supervisor about when it will actually make a payout.

Sharpe says he's hoping election officials will declare a winner next week,
at which time the bookmaker expects to pay the winning betters. He said the
bookmaker almost certainly won't wait for a pending Democratic Party lawsuit
over a controversial ballot to wind its way through the court system.

In the meantime, the betting house has received numerous complaints from
bettors impatiently waiting to collect their winnings.

"We told people to please address your complaints to the White House and not
to us," Sharpe said. Despite the nefarious qualities routinely attributed to
bookmakers, he said: "This time even we can't be blamed for having
manipulated the outcome of the U.S. election."

While presidential-election betting is over, submissions are on the rise for
some other long-term political wagers. The odds for a long-shot bet on
whether First Lady Hillary Rodham Clinton will eventually become president
have narrowed from 50 to 1 to 5 to 1 in the months leading up to her election
as New York senator.

Meanwhile, Sharpe said he believes the turmoil of Election 2000 -- while not
a great image-booster for the U.S. democratic process -- certainly makes for
exciting betting.

"People are just looking at the spectacle of something so completely
unexpected," he said. "Here's the most powerful democracy in the world, and
it could all hinge on a few votes someone may have left behind a door or
something."



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