THE GLASGOW East by-election is shaping up to be the biggest betting by-election ever, say bookmakers William Hill. 'We are doing tremendous business in a constituency which would normally attract very little betting money as, on the formbook,Labour should be unbackable to win here - yet there is as much money for them to lose as win' said Hill's spokesman Graham Sharpe.It's worth noting that Hills have the Conservatives beating the Lib Dems into third place. This is a reversal of the 2005 General election which saw the Lib Dems on 12% and the Tories on 7%. It also contradicts the latest ICM poll from the Telegraph (Lib Dem 9% Con 7%).
Hills currently make Labour 2/5 favourites to win the by-election, after taking the biggest single bet struck so far, of £2200 for them to win, while the SNP are now quoted at 7/4 - and have recently attracted two bets of £1000; the Conservatives are 33/1 and the Lib Dems 50/1. 'Although this is Labour's third safest seat in Scotland there has been no shortage of cash for the SNP to beat them and this could yet turn out to be the first by-election to produce a betting turnover of £100,000' said Sharpe. 'Labour were favourites when we opened the book, then they became joint favourites with the SNP, then the SNP became clear favourites, then they were joint favourites again and now Labour have gone back ahead.'
TO WIN GLASGOW EAST BY-ELECTION: 2/5 Labour; 7/4 SNP; 33/1 Conservative; 50/1Lib Dem.
Tuesday, 15 July 2008
William Hill - No shortage of cash for SNP to beat Labour (Glasgow East).
From William Hill: