Thursday, November 04, 2004

Bush Wins - and so do the Bookies

Punters count cost of US election

If you were like me the other night - it was more fascinating to watch the unbelieveable amounts of money being placed on Betfair backing Kerry to win the election. At one point you could back Bush at a huge 4/1 as Kerry shortened to 1/3 due to wild speculation during the vote count. Spread Betting firms also celebrated as they too saw money coming in for Kerry

Over £17 million went through the Betfair exchange alone as punters got their fingers burnt backing a democrat win. Its claimed that over £30 million was taken by bookies in the UK and Ireland on the election.

However, for those that did back Bush, they were holding their breath as bets were frozen until the result was confirmed - if Kerry asked for a recount of the crucial Ohio vote, the bets wouldn't have been settled for weeks.

Thankfully that didn't happen and there's a few happy punters out there who gladly picked up the long odds on offer for Bush on the night

posted by jo @ 6:37 PM   0 comments

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