UK betting firm Betfair are already paying out on bets that have been placed on a “No” vote.
They have said that they have paid out a “six figure sum” already. Betfair’s own calculation shows a 79% chance of a “No” vote.
Now before you go rushing off to open a Betfair account I’d be wary of the small print. Betfair is a normal fixed odds bookmaker but also run a betting exchange where people can make their own bets and odds for others to bet on. It’s the fixed odds side that they are paying out on and they are likely to have strings attached, and have more than covered the payout with bets on the otherside. They will possibly get creamed if it’s a yes “Vote” but I’m sure they’ve more than adequately done their sums.
UK bookies have made this move before with some bookies in Manchester paying out on Manchester United winning the league before the season was finished. One season they did get caught out though.
The latest pie from the bookies shows another slight increase in bets for the “No” vote alongside a shortening of the odds.
Scotland bets 16 09 2014
Scotland bets 16 09 2014
Further details from the Telegraph here
