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More Than £40 Million Bet on UK Elections

Written by:
Alistair Prescott
Published on:
May/06/2010
UK Elections

Millions of dollars have been bet on the UK elections outcome with most of the money being wagered on a hung parliament or Conservative majority, papers in London were reporting on Thursday.  Some £40 Million had been bet thus far.

William Hill reported taking a £6,000 bet from one voter on an overall Conservative majority, which with odds of 6/4 would see them walk away with £15,000, according to the Telegraph.

A Ladbrokes spokesman admitted a hung parliament could end up costing them more than £250,000.

Ladbrokes said that more money was bet on which party would win the most seats in the hours immediately following the first political debate and that resulted in odds fluctuating dramatically. 

Paddy Power punters have even been gambling on which polling company will prove most accurate.

According to the Guardian Newspaper, Coral has slashed the odds on a hung parliament to 8-15 from 4-6. It is offering 8-15 (from 4-6) on no overall majority; 11-8 (from 11-10) against a Conservative majority; 25-1 against a Labour majority; and 66-1 against a Liberal Democrat majority and that bookmakers also says the Lib Dems are now 2-1 to win 100 seats. On turnout, 65% to 69.99% is the 7-4 favourite.

During the 2005 general election campaign only £10m was gambled.

Alistair Prescott, Gambling911.com 

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