Now the high rollers are entering the market
After all the excitement on the commons seats spread markets last week there’s been a sharp reverse following the latest spate of opinion polls.
A couple of days ago I was noting that there’s been a rush of big value bets on Labour. One at Â£1,000 a seat was a Labour buy and there’d been two Â£1,000 a seat Tory sells.
Well it’s all gone the other way round. This morning Sporting Index emailed me to say that prices had moved back following a Â£1,000 a seat sell bet on Labour at the 212 seat level.
This is serious stuff. If Labour managed to squeeze to 282 seats then this punter would be down Â£70,000. On the other hand she/he would make Â£50,000 if the outcome was 162 seats.
The betting will get bigger as we get closer to the date, A week or so before the 2005 election there were Â£5,000 a seat trades being reported.
This is a form of punting for the brave and those with deep pockets. I have lost and won big sums , though not on this scale, spread betting.