THE GENERAL ELECTION has smashed all previous records for betting. William Hill, the nation's biggest bookmakers, expect that up to £25million will be gambled on the outcome - and they face some substantial pay outs from specialist political punters.
One Hill's client has staked the biggest ever General Election bet, of £200,000 that there will be a Hung Parliament, and stands to get back £244,444; another client has £50,000 on a Hung Parliament, to get back £56,250, and yet another £23,000 to collect £51,000.
A Devon customer of William Hill has bet £85,000 on the Conservatives to be the largest single Party and will receive £153,000 if correct; another £20,000 bet from a Southgate based client would return £27,272.
Hills have a £10,000 bet , placed in a Yorkshire betting shop, on David Cameron to be Prime Minister on August 1 at odds of Even money, which returns £20,000 - while a London client has bet £9673 that Ed Miliband will be in Number 10 on that date. This bet pays £14,832.
Another customer with £10,000 on the Tories to win an overall majority stands to collect £65,000.
And on Tuesday Hills took a £5000 wager on a Conservative-Lib Dem government at odds of 10/3, returning £21,666.
'We expect to take even more four and five figure bets on the run-in to the Election, while voting is taking place - and when the results are announced but before the make-up of the next government is known' said Hll's spokesman Graham Sharpe.'But there is no doubt that this is already the biggest betting General Election - or, as have called it, the first Political Grand National!'
'Political betting is now our most popular non-sporting event, beating even Royal Baby and Reality tv betting!' added Sharpe.
GENERAL ELECTION OUTCOME......1/12 Hung Parliament; 15/8 Labour minority; 10/3 Con-LD coalition; 4/1 Con minority; 7/1 Con majority; 9/1 Coalition involving SNP; 20/1 Coalition involving Ukip; 25/1 Coalition involving DUP; 33/1 Con-Lab coalition; 33/1 Labour majority; 66/1 Coalition involving Greens; 500/1 Ukip majority; 500/1 Lib Dem majority.