On Tuesday online sportsbook BookMaker took a bath on wagers where they underestimated the number of times President Donald Trump would lie during a television address, losing $276,424 to punters.
Trump took to the airwaves to make his case for building a border wall along the U.S.-Mexico border. The president is seeking funding for the wall, which is being denied by the Democrat controlled House of Representatives, with the deadlock causing a government shutdown as both sides refuse to pass and sign a government spending bill.
BookMaker set the number of lies that Trump would tell during the speech at 3.5, with -145 for over and +115 for less. The book took in hundreds of thousands of dollars in wagers on the over (92% of wagers), and predictably, Trump easily surpassed the 3.5 lies, spewing 11 lies according to the Washington Post. This has led to BookMaker being on the hook for the large sum of money.
Speaking about the loss BookMaker's John Lester said, "It's a bad day for Truthiness and Bookmaker. We knew we were in trouble early with this one."