UK bookie already paying out on "No" vote for Scottish Independence
Polls say the outcome of the Scottish independence vote is too close to call, but gambling company Betfair is already paying out more than £100,000 ($179,000) to customers who backed a “No” vote.
The referendum on Thursday when voters in Scotland decide whether to split from the United Kingdom has attracted record levels of interest from British gamblers.
Bookmakers sometimes pay out early on sports events when they consider the result a foregone conclusion, judging that the publicity they generate is worth the risk should there be a surprise turnaround.
“We’ve decided that ‘No’ is most likely to be the winning vote in 3 days’ time, so we’ve put our money where our mouth is,” online betting specialist Betfair said on Tuesday. The offer applied only to bets placed with Betfair’s sportsbook – the smaller part of its business where the company sets the odds itself.
Betfair makes most of its money from an exchange where gamblers can bet against each other. Betting patterns on the exchange indicate a 79 per cent probability of a “No” vote, according to company spokesman James Midmer, reinforcing the company’s confidence in the outcome.
One London-based gambler will collect £973,000 if Scotland rejects independence after staking £800,000 on a “No” vote with William Hill, Britain’s largest bookmaker.
So that's one answer. I suppose we'll know soon!