Special: Political Betting on the UK General Election

The upcoming general election in the UK next month (May 7th) is shaping up to be one of the more impassioned elections that were held in the country in the past decade. The upcoming election is expected to be the most polled in British history, but this time the predictions do not rely on polls solely but also on the odds given to the candidates by sports bookies.

Specifically, big online bookies like Winner Sports, William Hill Sports, bet365 Sports and Ladbrokes are all dedicating special betting markets for the English celebration of democracy. It is estimated that some £100 million will be wagered on the election, making it the biggest non-sports event that has attracted so many bets.

The Battle for Number 10

Perhaps the most interesting duel next month will be that between the reigning Prime Minister and leader of the Conservative Party, David Cameron, and Leader of the Labour Party and Opposition, Ed Miliband. While Cameron's poll approval ratings seemed to turn up lately, Miliband was not that far behind. On Tuesday, former Prime Minister Tony Blair said he gives 100% backing to Ed Miliband, warning of David Cameron's plans for an EU referendum.

What and how much impact this might have is unknown, but it won't deter from Miliband's popularity; for a good wager, remain updated with the latest news about these two as there are happenings everyday and every hour. But these two are not the only highpoint of interest in these elections.

Conservative or Labour Majority?

It's not only the person but it's also the seats that count. Punters are betting on how many seats each party will get, trying to predict which party will get the majority. At William Hill Sport, there were 1/6 odds that there will be no overall majority, 5/1 for a Conservative majority and 16/1 for a Labour one; UKIP and the Liberal Democrats weren't given many chances. The odds were similar at Winner Sports: Conservatives received 5/1 for a majority and 2/5 for most seats, while Labour received 7/4 for majority and 12/1 for most seats.

Bookie Specials

And what specials do bookies offer for election day?

Ladbrokes launched a special mini-site called "The Ladbrokes Lowdown", presenting punters with a set of tools with which they can make better, sharper bets. The tools include an interactive graph showing how the predictions on how the political pie will be split following the election: Conservatives are expected to get 278 seats, Labour 274, SNP 41 and Liberal Democrats 30. There's also neat data of regional constituency betting markets showing stats from an interactive map of the country.

Bookie William Hill has went the extra mile for punters, presenting them with a podcast where political expert Graham Sharpe offers his views. There's a wide range of betting markets including constituency bets, election turnout, party with most seats and specials that discuss the future coalition's structure.

Political Betting Tips

In the time that's left until the ballots open, make sure to remain updated and check out polls and odds as everything can change and it probably will. Like in sports betting, political betting demands knowledge. When placing your bet, make sure that it will be based on research and not on your preference of what will happen, who will win or what someone else said, and of course – bet responsibly!