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New York. — Joe Biden’s biggest fan could be a gambler in the United Kingdom.

Someone has placed a £1 million, or US$1.29 million, bet on Biden to be the next president on the Betfair Exchange, the world’s largest online betting exchange, where gamblers find other gamblers who match their wagers.

US gamblers are not allowed to place legal wagers on the election, even as legal sports wagering spreads across much of the country thanks to a 2018 Supreme Court ruling. But wagering on the election in the United Kingdom’s legal betting market is soaring, setting up the US vote to be the most-bet-upon event in history. The identity of the bettor, who placed the wager on October 29, is not known. They would win a £540 000 (US$696 170) profit on top of getting the original £1 million wager returned.

Oddsmakers put Biden’s chance of winning at 65 percent, and Trump’s chances at 35 percent. That’s slightly better odds for Trump than the 2-to-1 odds last week. And it’s much better than the 10 percent chance of Trump winning according to FiveThirtyEight.

The £1 million wager is tied for the third-largest bet in Betfair’s history, behind £1.1 million bet on tennis player Rafael Nadal in the 2010 French Open, and slightly more than £1 million bet on Floyd Mayweather Jr. in his 2017 match against Conor McGregor. The bet could be a good omen for Biden: The 10 largest bets in Betfair’s history before now, all on sporting events, have been winners.

Big-money bettors typically bet on the favourite, said Pete Watt, public relations manager for OddsChecker US, which provides advice and information to gamblers. And they typically come very close to the event taking place, he said.

“A tiny difference in the odds will make a big difference in the returns of the big-money bettors,” he said. — CNN Business.