Surge in Betting on United Kingdom Election Date Raises Suspicions
The scandal surrounding betting on the UK election date continues to grow following the publication of data by bookmakers showing a surge in bets placed the day before the election date was announced.
Bookmaker data reveals a surge in UK election betting day before the announcement.
LISTEN TO THIS ARTICLE:The UK Gambling Commission has also had its hands full with various investigations of key figures in the country. The data shows that more than £2,700 was bet in just a few hours on May 21, with some bets of more than £400. The next day, Rishi Sunak surprised the country and political pundits alike by announcing that the election would take place on July 4.
Uptick in Bets Placed
An analysis of the betting patterns on Betfair Exchange shows an unusual rush of betting activity in the hours before the Prime Minister’s announcement.
The day before the announcement, more bets of £25 or above were placed than in the period leading up to the announcement, with 14 of the bets of £50 or more. Just after midday, a bet of roughly £400 was placed on the summer election while the odds were a relatively long 8/1.
Four hours later, a bet of £425 was placed and by that point, due to the volume of bets placed, the odds had dropped to 4/1.
A total of £6,027 was bet on a July date at Betfair Exchange, and more than half of the total (£3,594) was wagered in the five days leading up to the announcement, and £2,742 was bet the day before.
Prior to the days before the announcement, the bets had been placed sporadically, which is what would be expected.
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Prime Minister Expresses Disapproval
The Conservative director of campaigning, Tony Lee, has been forced to take a “leave of absence” due to an investigation over an alleged bet on the election date, and his wife Laura Saunders, who is standing in the election, is also being investigated by the UK Gambling Commission.
One of Sunak’s senior aides and an MP candidate, Craig Williams, is known to have bet £100 on the election date the day before it was called and is also being investigated. As reported yesterday, one of the Prime Minister’s protection officers has been arrested on suspicion of misconduct in public office due to his betting activity.
Speaking during a television debate on Thursday night, Sunak said, “I was incredibly angry to learn of these allegations. It’s a really serious matter. It’s right that they’re being investigated properly.”
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