Online Gambling Site Betfair Guaranteeing No Scotland Independence
Polls may say the outcome of the Scottish independence vote is too close to call but one UK-based betting shop, Betfair.com, is already paying out more than 100,000 pounds ($162,000) to customers who backed a "No" vote.
Another, Gambling911.com endorsed Bookmaker.eu, is offering the NO at -450 and the YES at better than 3-1.
"We've decided that 'No' is most likely to be the winning vote in 3 days' time, so we've put our money where our mouth is," online betting specialist Betfair said on Tuesday.
Bookmaker.eu indicated to Gambling911.com that they have begun to see some money flowing in on both sides.
For Betfiar, their "money back guarantee" offer applied only to bets placed with Betfair's sportsbook -- the smaller part of its business where the company sets the odds itself.
Betfair makes most of its money from an exchange where gamblers can bet against each other. Betting patterns on the exchange indicate a 79 percent probability of a "No" vote, according to company spokesman James Midmer, reinforcing the company's confidence in the outcome.
The referendum on Thursday when voters in Scotland decide whether to split from the United Kingdom has attracted record levels of interest from British gamblers.
One London-based gambler will collect 973,000 pounds if Scotland rejects independence after staking 800,000 pounds on a "No" vote with William Hill, Britain's largest bookmaker.
Labour Party politician Douglas Alexander said a No vote meant "faster, safer, better change for Scotland," while independence would bring "risks, uncertainties and costs."
"With just 48 hours to go, they can't even tell us what currency we'll be using," Alexander told No supporters in Edinburgh's financial district.
- Gilbert Horowitz, Gambling911.com
