The bulk of the money placed on bets over Scotland still side with a Yes vote for independence as today’s pie shows.
Scotland bets 15 09 2014
The odds are little changed from Friday and the “no” bets are creeping up slightly.
Scotland bets 12 09 2014
You can almost read this data in the same format as retail FX positioning in that most of the time the traders are well out of sync with the current market. Remember that betting isn’t just about what people feel the result will be but on actual risk reward value too. I do the same when I see big odds on an opposition football team to beat my team. I’ve made more money over the years betting against my team than I ever have betting on them.
Separately, I heard from a different source at an online bookie that while 70% of people are betting on the Yes side but 70% of the money is on No. Small time bettors put down bets with their hearts, bigger bettors use their heads.