Sporting Index reports big win during UK election

11 May 2015

Spread betting company Sporting Index has revealed that it was able to process a record number of bets during last week’s UK general election.

In a result that defied the opinion polls, the Conservative party, led by Prime Minister David Cameron, secured an outright majority and will now lead the UK with a majority Tory government.

Sporting Index said that its biggest winning markets were the number of Conservative seats above 300 and an outright Conservative majority, with many punters opting to bet against Cameron’s party sweeping to victory.

However, some customers were able to walk away with more than £50,000 (€69,000/$77,100) from selling Labour seats and correctly predicting that key political figures such as Ed Balls and Nigel Farage would fail to win seats.

Mark Maydon, business affairs director for Sporting Index, said: “Though the result of the election surprised many, our political trading team played a blinder and our initial figures look very healthy indeed.

“While many fixed odds bookmakers might be counting their losses today, the entire UK bookmaking industry will be pleased with the real-world ramifications of the election.

“The short-term losses might have been painful but are probably nothing compared to the long-term damage that a Labour government with a very anti-gambling agenda might have inflicted.”

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