A confident Bridlington punter has placed £15,000 on the outcome of an election.... in London!
The unnamed William Hill customer has backed Labour’s Sadiq Khan to become the next Mayor of London at odds of 4/11.
This means the Bridlington client could around win £5,434 from the election, which takes place today (May 5) with polling stations open until 10pm.
A spokesman for William Hill said: “The bet was placed when Sadiq Khan was offered at odds of 4/11 (stake 11 to make profit of 4), so the customer’s £15,000 stake could earn winnings of £5454 plus a few pennies. It is the largest bet struck on Khan but not the biggest in the contest. We do not know how much in total has been bet on the Mayoral Election as the market has not yet closed.”
The next Mayor of London will replace Boris Johnson, the Conservative who has held the post since 2008.
Labour’s Sadiq Khan and the Conservative’s Zac Goldsmith are considered to be the main contenders in the race. The biggest bet placed in the contest so far is £20,000 on Conservative Goldsmith.
Other candidates are Caroline Pidgeon (Liberal Democrat), Sian Berry (Green Party) and Sophie Walker of the Women’s Equality party.
The timing of the bet has worked well for the punter with Khan’s odds slipping to 1/14 as it stands with William Hill. This would mean a bet of £15,000 would have just brought in £1,071, a difference of £4,363.
Labour’s Mayoral candidate is MP for Tooting and a former human rights lawyer. The 45-year-old also served as a minister in Gordon Brown’s government and is the first Muslim to attend Cabinet meetings.
William Hill say political betting is a growing market of their business with more than £5 million taken on the last General Election.
The spokesman added: “Political betting is one of the fastest growing parts of our business – at the Scottish referendum one client staked a (successful) £900,000 bet on the outcome, while the US Election is also attracting big money bets – one client from Cornwall will win £80,000 if Donald Trump, once 200/1, now 9/4, wins.
“These days it is not at all unusual to take bets ‘at a distance’ because of the ease of betting via the internet – and it is not improbable that the client could live in Bridlington but work in London, or vice versa.”
The Bridlington client will have to hold their breath until the votes are counted tomorrow (May 6) to see if their £15,000 has been successful.