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Bookmakers Triumph in UK General Election

Bookmakers Triumph in UK General Election

While not everyone will have be happy with last week’s UK General Election results few will be more disappointed than the punter who placed £70,000 on a Tory majority.

The bet was placed with William Hill after the Conservatives significantly outperformed Labour in May’s local elections. According to the bookmaker, a number of punters were convinced that the Conservatives would enjoy similar success in the general elections.

As a result, it was an extremely successful night for bookmakers. According to William Hill around £20 million was bet on the election, the majority of it backing the Tories. A company spokesman said that they had a number of five figure bets on the Conservatives winning a majority. However, he said not everyone was disappointed, such as the punter who bet £200,000 on the Conservatives winning the most seats.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.