Well done to the betting exchange

The big political betting news tonight is that the disputed Iowa caucus markets has now been settled by Betfair who have paid out to Santorum punters.

This will have cost them a fair packet because they originally settled in favour of Romney backers after the numbers on the night pointed to him having won the state by just eight votes.

This wasn’t the certified result and by the time the process of verification had been completed the result changed with the former Pennsylvania senator, Rick Santorum being declared the official winner by a margin of 34 votes.

This is a big decision by Betfair especially as the pay-out is net of the firm’s commission.

Very well done guys. It is much appreciated.

For me this has been a massive day after winning big on the thrree overnight nomination races.

Mike Smithson @MikeSmithsonOGH