Betting On Election Results History
Betting odds on election results is not a new thing as many people may think.
From as early as 1964, William Hill made a huge step in political betting where they posted a huge advertisement on the 20th page of the Daily Express in a bid to promote their odds for the upcoming elections.
The odds on election result at that time were as follows: odds on the election on Labour Party to win were 1/2; while those of the Conservatives were 6/4. Three days later, the odds had changed with the Labour Party having 2/7 while those of the Conservatives were 5/2.
At that time, you could place your bets through telephone by calling Waterloo 411 on extension 8, or through the post. At that time, only clients who were 21 years and above could place their bets.
This was the first time in history that a bookie had gone public and advertised betting odds on election results, and the advertisement has been taken out against the wishes of Mr. William Hill himself, who is the founder of the popular online bookie, William Hill. In his reasoning, he believed that betting on the election was going to not only affect his business, but it was also going to influence the outcome of the election results by influencing the voting patterns of the general public.
In the long run, the election resulted in something of a photo finish with the Labour Party leading with a majority of just four, as Harold Wilson ascended to power.
Wilson’s government didn’t have any real command, and as soon as 31st March 1966, another general election was held.
Unlike William Hill, whom we’ve clearly seen, just tolerated instead of supporting the company’s decision on offering betting odds on election results, the company’s bitter rivals, Ladbrokes had no such misgivings.
Consequently, former William Hill men, Ron Pollard, took it to himself and promote the company’s betting odds on election results to the media with very little competition.
Eventually, William Hill fell to the pressure from within the company and allowed the bookie to offer competitive prices to be offered to the general public.
Fast forward to today, various bookies saw an astonishing number in 2014, during the Scottish referendum, which has gone into the books as the biggest political betting turnover.
A gambler in Glasgow staked a total £200,000 on a no vote, a figure which equaled the previous political record, which had been staked in 2005, on David Cameron becoming the next Troy Leader.
However, these two records were dwarfed when a William Hill client based in South West London placed a stake of £900,000, on a No vote, where he eventually made himself a profit of £193,000. Generally, a total of £10 million was placed on the outcome of the referendum which resulted in a new record in betting odds on the election result.
It is expected that the 2016 Brexit referendum is set to beat the eight-figure burlesque, pushing betting on elections results towards becoming one of the most popular no-sporting punts in the UK. It is expected that the £900,000 will come back with a spectacular general election bet of £200,000.
Which Bookies Offer Betting Odds on Election Results Services
There are various bookmakers that offer betting odds on election results to not only the UK citizens but also residents that reside in Australia, Scotland, Ireland, Germany among other countries.
Some of the reputable bookies include Bet365, SkyBet, BoyleSports, Betfred, Coral, BetVictor, Ladbrokes, Coral, Betfair, Bewin, PaddyPower among many other sites.
These bookmakers have various election markets that you can bet on that include the following:
Mainly features the elections events taking place in the UK. It features events such as the next Conservative Leader, the next Labour Party Leader, and the time of next election.
Moreover, there is the option of who will leave the cabinet post first among many other events. Different bookies will have different options under this market.
The General Election Results
This features mainly the US political results. Under this section, you will be able to bet on the next US president, the next party to rule the US, as well as the running mates to the two main candidates.
European politics mainly features options in the country that are going to leave the European Union as well as the country that is going to join the European Union. After the famous Brexit vote, Greece is the next favorite country to leave the EU with odds on the election of 8/11.
The Scottish Independence
This market mainly focuses on the Scottish independence from the United Kingdom. The market is mainly featured by William Hill and counts on a referendum to be conducted before the end of 2024. If there will be no referendum before then, all the punters who shall have placed the yes bet will lose.
The Australian Political Betting
Similar to the Scottish Independence, the Australian Political Betting mainly focuses on the Australian market. For example, you will come across the NSW State election that will be held in 2019, the Queensland State election to be held in 2018, the WA State election to be held in 2017, the Victorian State election and the South Australian State Election.
What Do You Need to Bet on Elections?
Betting on elections is as straightforward as placing any other bet. As long as you have an internet connection, a mobile device or PC to access the various bookmakers, you can start betting on the election.
Take note that different bookies online have different odds with Ladbrokes, William Hill and Bet 365 being some of the reputable and recognized bookies with the best odds.