Sunday, October 07, 2007
Year of Next UK General Election
Quick reactions can lead to great bets... it happened last year for me for on bets on SPOTY (Zar Philips, 11-1) and SCD (Mark Ramprakash). Typically, Betfair has reacted and you have have 15 mins (max.) to put your bets on with bookies.
A situation like thsi occured yesterday. It was announced as the lead story on BBC News that Gordon Brown has ruled at this Year (2007) for a General Election. There as no way they would have lead with this without being 100% sure (it turns out that Andrew Marr/BBC was having a one-to-one interview).
The odds on a 2007 General Election had moved to 40-1 at Betfair. However Willima Hill were still offering 4-6 on there NOT being a General Election in 2007. Not bad prices for a two runner race! William Hill limited me to pts. I also placed 0.5 pts at 40-1 on Betfair on a 2007 Election, in the (unlikely) event of a change of mind by Gordon Brown.
On a related market, I as able to back a 2009 General Election at 4/1 at Coral. I was limited to 4pts. This is now an even money chance on Betfair, as Gordon Bron has said a 2008 election is also unlikely.
These markets were pulled by the bookies approx. 15 mins later.