Scottish independence: Betfair pays out on No vote

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Gambling company Betfair said today it was already paying out winnings to customers who had staked money on a “No” vote to independence.

Bookmakers sometimes pay out early on sports events when they consider the result a foregone conclusion, deciding that the publicity they generate is worth the risk should there be a surprise turnaround.

“We’ve decided that ‘No’ is most likely to be the winning vote, so we’ve put our money where our mouth is,” Betfair said.

One London-based gambler will collect £973,000 if Scotland rejects independence after staking £800,000 on a “No” vote with William Hill, Britain’s largest bookmaker.