Why doesn’t the media quote betting exchange prices?

This piece which went up on the Guardian website an hour or so a go is a typical example of lazy and misleading coverage of political betting.

It’s almost become a cliche now to cover a story by looking at the betting odds – but what betting odds? For if the paper had looked at the dynamic betting round-the-clock exchange prices where punters themselves trade with each other a different picture emerges.

For the favourite as of 1850 is NOT Hilary Benn but the education secretary, Alan Johnson. The traditional bookies are not operating this market round the clock and they fix the prices – not punters.

So to make a political point based on betting prices the best place to look is the betting exchange. Come on the Guardian – let’s be smart about this. You are the paper that last year made a fierce attack on this site and me personally – so get your house in order.

Mike Smithson