The fiercely contested 2016 U.S. election is set to become the most bet-upon political event in history as gamblers pour millions of dollars into bookmaking platforms in the hope of hitting the jackpot.
People gauging the odds of Hillary Clinton and Donald Trump would have been watching closely on Sunday after the FBI concluded its investigation into Clinton had found no evidence to prosecute the Democratic presidential nominee.
According to a final NBC/Wall Street Journal poll reported early on Sunday, Clinton holds a four-point lead over Donald Trump though the latest development from the FBI is likely to boost Clinton's campaign with just one day to go until the election.
Clinton's odds rallied shortly after the FBI announced that no criminal charges were warranted for the use of a private email server. U.K.-based bookmakers Betfair, Ladbrokes and PaddyPower all reported Clinton to have an 83 percent chance of becoming the next leader of the free world.
Graham Sharpe, media relations director with William Hill, told CNBC in a phone interview that the money turnover for this extraordinary presidential election has been unique.
He added, "The two personalities running for president and the fact that polling has been very close have combined to make people want to have a bet."
Sharpe went on to say that the Scottish referendum in 2014 was previously the most wagered-upon political event in history though this U.S. election campaign has already surpassed that. William Hill had received bets totaling more than $4.3 million on the outcome of Scotland's referendum though they are anticipating around $5 million in total for the 2016 U.S. election.
Barry Orr, a spokesperson for Betfair, said: " In previous presidential elections the favorite at this point has always gone on to become the President of the United States.
"So with Trump's odds drifting despite huge support for the Republican and several 6-figure bets in the week prior to Election Day, all signs point firmly towards a Clinton victory," he added.