Betting on Biden: Australian bookmaker pays out $17 million on Joe winning, before official result is in

It's the day after Election Day in the United States, and there is no declared winner yet, as votes remain to be counted — either Joe Biden or Donald Trump will be the next President.

It's already Thursday in Australia, and bookmaker there says it has paid out A$23 million (USD $16.5 million) to betters who bet on Joe Biden winning the election. The bookmaker made the payout despite the fact that the official result is yet to be determined.

Still, Sportsbet said it has paid out on more than 100,000 bets laid on a Biden victory.

"We have supreme confidence that Biden will end up in the Oval Office," a spokesman for the Australian bookmaker said.

Read more at Reuters: Australian bookmaker pays out $17 million on Biden victory ahead of official result