Betfair is 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.
The identity of the bettor, who placed the wager on October 29, is not known. They would win a £540,000 ($696,170) profit on top of getting the original £1 million wager returned.
Oddsmakers put Biden's chance of winning at 65%, and Trump's chances at 35%.
Source:- CNN
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