Eye-catching bets include a record-breaking £1m on the Democratic challenger to win

The 2020 US election is shaping up to be the biggest betting event of all time, with one player placing a record-breaking £1m bet on a victory for the Democratic challenger, Joe Biden.

People were still rushing to place bets on Monday on the eve of the election and Matthew Shaddick, the head of political betting at Ladbrokes Coral Group, said it estimated about £1bn would be wagered globally across the industry.

Related: US election polls tracker: who is leading in swing states, Trump or Biden?

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