This Article is From Apr 13, 2010

25-million-pound betting over British polls

London: It is the closest election Britain has seen in more than 30 years - and that's good news for the bookies. Betting on the outcome is becoming as much of a national pastime, as is following the campaigning. A whopping 25 million pounds will likely be bet on election results in the next three weeks.

Clearly, Gordon Brown has not seen the odds on his victory. If he had, he wouldn't be smiling any more.

David Cameron looks the most likely entrant to 10 Downing Street, but will he be able to do it without the help of Liberal Democrat leader Nick Clegg, is a vexing question.

"David Cameron looks like he will be the next Prime Minister. But what is much less certain is whether his party will have an overall majority, or whether his party will fall short and form a minority govt and have another election soon," YouGov President Peter Kellner.

According to most polls, a third of the people are undecided about who they will vote for. Predictions of a hung parliament and uncertainty have increased the stakes in the bets being placed. The odds fluctuate wildly every day.

"The closer the elections, the better it is for us. We're going to get a fifth of the business, but industry-wide we expect something like 25 million to get bet," says Rupert Adams of the betting agency William Hill.
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