For sure he though that trump will win that's why he's confident to put that huge amount to bet on trump but things goes crazy and now he lose and for sure he will be remembered in history as big loser on trump.
Well of course, why bet that kind of amount if he's not confident for Trump lol.
Might he will become a big loser in the history of Biden vs Trump bet but with the amount he gambled, I'm sure he's not an ordinary person.
That $5M will hurt his pocket but he can cover the loss right away as maybe he is a big person - with business, with investment, rich, etc., or something, not the average gambler.