Paddy Power Suspends Bets on UK General Election

By Simon Wright, Last updated Feb 15, 2021

Brexit, a hot potato of an issue that has divided the entire UK nation.  An issue which has caused one leading UK facing bookmaker to suspend taking bets on the date or time frame of the next UK General Election.

This move comes in  light of the happenings within the UK parliament this week and with the date of 29th March fast approaching, the date that the UK is set to leave the European Union.

In a move either to gain additional publicity or based on the actual liability of their book ( or indeed both! ), Paddy Power yesterday suspended betting on the date of the next UK General Election.

This action by Paddy Power came about after they received substantial sized bets yesterday afternoon, which no doubt skewed their book and opened up the Irish bookmaker to scary liabilities. Where Paddy Power lead, others may follow and as a result expect many other bookies to do the same.

A spokesperson for the Irish bookmaker, commenting on their decision to suspend betting on the date of the next General Election, said: “We’ve seen a rush of hefty bets on a General Election to take place within the last hour or so, and as a result, we are refusing to take any further bets on the market. It seems there ‘May’ be trouble ahead.”

Regardless of your own opinion on how the Brexit negotiations are being handled, the actions or inactions of the UK government, show that most people wouldn’t want them to handle the proverbial party in a brewery!

The latest polling among the British electorate also seems to reflect this. With a Sky Data poll showing that 90% of the people polled, are of the view that the way the UK government is handling  Brexit negotiations with the EU,  has in turn made the country an embarrassment and a laughing stock.

Anyhow, as a result of the impasse within the UK Parliament, the fact that two meaningful votes have been shot down and the Speaker John Bercow getting involved, flexing the muscles that goes with his position. It is now apparent that bookmakers such as Paddy Power are of the view that it is a case of when and not if a General Election will be held.

For those of you that fancy a bit of political betting, there are several markets still open to have a dabble in. Including who will be the UK’s next Prime Minister, or will the UK actually revoke article 50? So, will it be a case of taxi for May anytime soon? Watch this space…..

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