Now firm second favourite on both sides of the Atlantic

The huge publicity build-up for London’s 2012 Olympic bid seems to have caught the imagination of punters in the UK and internationally. The best bookmaker price in the UK is now 7/2 with just over 5/1 available on Betfair.

Interestingly there been a sharp move to London on the Tradesports exchange which is focused on the US market. For a long time New York was in the second spot behind Paris but now it’s London at 5.75/1.

Paris is still hot favourite at 1/2 on Tradesports and 2/5 at the UK bookies.

Given that the result won’t be announced until July, after the suggested General Election date, it’s hard to see whether this will have any political impact during the campaign. The bid process will be nearing its climax in May and it would be ironic if the process, which is being led by the former runner and Tory MP, Lord Coe, produced a benefit for New Labour. No doubt all party leaders will line up behind London.

The cost of the bid and the fact that it is in London might emerge into an issue.

Mike Smithson