Wednesday, May 06, 2015

Betting on British Elections. . . and American ones

This is an interesting interview with an odds maker at Ladbrokes about the British Election tomorrow.  Not only are Americans forbidden to bet on elections here we cannot bet on American elections in England.

CB: How big is the betting on the U.S. election?
MS: The 2012 U.S. election compared very favorably to the U.K. general election. I expect £4 million or £5 million to be bet next year. 2008 was huge: The Clinton-Obama [primary] race was so unpredictable.
CB: Is 2016 already a big market?
MS: Not very much. A few people had some big bets on Hillary Clinton. I wouldn’t really expect this to take off until the primaries next year. Once Clinton confirmed she was running, she came in at an 11-to-10 favorite and stuck there. Democrats still are the marginal favorites for their nominee to win. As soon as each Republican candidate announces he or she is running, you see some bets on them. Chris Christie is a big price. I don’t understand why no one wants to back him. [Editor’s note: We do.]

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