The rise of political betting in the UK has seen shrewd punters turn to odds comparison sites as they look to stay one step ahead of the fascinating markets available.
The bookmakers are preparing for a staggering £100m to be wagered on the forthcoming general election and they believe it will be the biggest betting election of all time.
It is likely to attract three times the amount of bets than the last election and Paddy Power claim that 95% of these wagers will be taken online. But if the amount of interest in the markets is impressive then the size of some of the bets placed is nothing short of astounding; it's not long since a £900k political bet was successfully placed on the outcome of the Scottish Referendum (the biggest non-sports betting event of all time in the UK).
Such is the popularity of the election, bookmaker William Hill have dubbed it ‘the first political Grand National’ and betting turnover is showing no signs of slowing ahead of 7th May. The firm’s spokesman, Graham Sharpe, believes that all previous records are set to be broken and they continue to accept substantial stakes on their markets.
Sharpe recently commented: 'We've already seen the largest ever General Election bet of £200,000 on a Hung Parliament staked, and we are predicting that new betting turnover records will be set during this campaign.
“We're predicting that this General Election, which boasts over a dozen possible outcomes, compared to the usual two or three, will produce the first eight figure political betting turnover, at least doubling the 2010 figure.”
William Hill are not the only firm reporting vast sums of money changing hands and a “well-groomed, wealthy and well-informed” anonymous gambler staked a £30,000 bet on a Conservative majority with Ladbrokes this week. The pensioner calmly parted with his cash in a branch in Glasgow and the punt, which is the biggest bet to date on a party emerging with a majority next Thursday, is likely to be the first of many educated gambles this month.
Political betting has been going on for many years but impressive new sites have helped savvy political punters wage large sums in confidence, and there has never been so much information at our fingertips.
The political betting experts at BetOnPolitics.co.uk have launched a fascinating new feature that allows punters to view the market for every one of the 650 constituencies. The leading site offers odds comparison for every seat and even includes party information, Linkedin, Facebook and Twitter details.
It means that you can view the best odds available for every seat and stay one step ahead in a very volatile market. This election looks too close to call and a number of political experts believe there are several constituencies that could provide unexpected results.
These markets really catch the imagination of punters willing to back their judgement with money, and their collective knowledge and wisdom could leave the bookmakers battered and bruised in May.
BetOnPolitics.co.uk’s odds comparison is just one of a number of essential tools that punters will be relying on as the market for each constituency continues to heat up. Experts believe that South Thanet, the hotly contested seat Nigel Farage is running for, will be the largest betting constituency in Britain and BetOnPolitics.co.uk currently have the UKIP leader as a strong favourite.
As May’s election draws closer it's likely that these markets will also become more than just a financial exercise, and comparing the odds on offer may also give us an indication as to how the vote is going. BetOnPolitics’ editor, Phil Lowe, believes that the interest in the election continues to surge and their readers are doing all they can to stay ahead of the layers.
Lowe explained: "There is huge interest in next week's General Election and the launch of BetOnPolitics.co.uk comes at a time when punters are starting to look for the best Election odds and the very best bookmaker offers.
"As well as providing the very latest pre-election news from our superb team of experts, we'll also be working hard to inform our readers about the best odds available on various political markets as we look to 'bash the bookies'.
"For our readers who are looking to bet on a specific constituency, then BetOnPolitics.co.uk is the place to be as we've got live odds on all 650 constituencies, giving punters the edge when it comes to placing their bets between now and May 7th!"
As the traffic to BetOnPolitics.co.uk continues to surge, so does our knowledge of these constituencies, and the site’s odds comparison will be a huge asset as punters continue to sink their teeth into these riveting markets.