Election betting fever ..

By Chris Shillington on 11 March 2010 at 11:52

Political betting maybe not scream rock n roll but it’s the market here at extrabet that is very much in vogue. Amazingly the fashion is also leaning towards Labour as their ‘General Election Party Seats’ price on our political spread betting markets are being backed to the hilt.

There are 650 seats up for grabs with 326 seats giving an overall majority. The way the spread betting market works is it asks - How many seats will each party will win at the next general election? If you think they will win more than the price quoted then BUY and if you think less then SELL.

Currently the Conservatives trade at 329-334 seats on the spreads here at extrabet. They were however as high as 358-363 seats just 2 months ago. As they teeter on the edge of an overall majority Labour currently trade at 234-239 seats but where as low as 198-203 expected seats at the beginning of the year. Put another way Labour were as big as 8/1 to win the next election but now trade at 4/1.

Even the questionable vehicle that is Piers Morgan’s chat show jumped the PM’s expected seats from 228-233 to 230-235. What next … a seat at Loose Women? The Lib Dems currently trade at 56-59 after a steady rise from 47-50 at the end of last summer.
As the inevitable General Election approaches online political betting has become somewhat of a guilty pleasure for so many in the betting community.

extrabet’s Chris Shillington explains further “Political Betting used to been seen as a way to keep you awake on election night but the interest we’ve seen in the last month shows the huge interest the public have for this country’s next leader”

BET ON THE ELECTION
Conservatives to win 1/7
Labour to win 4/1
Lib Dems to win 80/1

SPREAD BET ON THE ELECTION
GENERAL ELECTION PARTY SEATS
Conservatives 329-334
Labour 234-239
Lib Dems 56-59

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