Labour’s General Election Surge Costs One Punter £70,000

Betting on the UK General Election topped £20 million at William Hill, but one punter will be regretting his decision to speculate on the outcome.

Jeremy Corbyn costs punter money.

An unexpected wave of support for Labour leader Jeremy Corbyn has cost one William Hill customer £70,000. (Image: BBC.co.uk/Getty Images)

When Theresa May called a snap election, many saw it as a power grab for the incumbent Prime Minster.

With Labour leader Jeremy Corbyn out of favour with many in his own party, much of the mainstream media were predicting a comfortable win for May.

Conservative Slip Costs Punter

With the weight of opinion against anything other than a Conservative majority, William Hill posted odds on a landslide victory with prices dropping as low as 1/6.

Using the Conservative’s dominance in the May local elections as well as the apparent backlash against Corbyn, one William Hill punter decided to put £70,000 on an “can’t miss” bet.

However, as the exit polls started to filter through on June 8, the customer in question quickly saw a sure thing turn into a real gamble. Thanks to a late surge from Labour, the Conservatives were unable to win a majority, despite winning the election.

The unexpected result meant the bettor lost £70,000, but also meant William Hill did well thanks to a wave of similar five-figure bets on the “favourite.”

Gala Wrapped for Misleading Ad

In other UK gambling news this week, Gala Interactive has become the latest online betting operator to fall foul of advertising laws. Following a complaint to the Advertising Standards Agency (ASA), a Gala Bingo ad shown in February 2017 was deemed to be misleading.

Reviewing the TV advert designed to promote a £5,000 cash giveaway, the ASA found that the small print displayed at the bottom of the screen was potentially illegible. In response to the complaint, Gala Bingo said that the size text and its time on screen were within the permitted guidelines.

Although the ASA acknowledge this was the case, it concluded that the height and width of the text looked “very compressed. Additionally, the flashing images on screen made it difficult to read.

Based on this, the ASA upheld the complaint and concluded that Gala had breached the following UK Code of Broadcast Advertising (BCAP Code) rules: 3.1 and 3.2 (Misleading advertising) and 3.11 (Qualification).

Another Warning from the UKGC

In light of the breaches, the UK Gambling Commission (UKGC) has warned Gala Interactive not to show the advert again and that all future presentations must provide legible small print. The proverbial slap on the risk won’t go down as a good look for Gala, but it’s certainly a far cry from the £300,000 fine received in May.

Despite receiving a warning for the way it advertised one of its free bet promotions, they failed to address the issue in a timely manner and subsequently incurred the wrath of the UKGC.

Although it was the first time the UKGC has been forced to issue a fine over misleading advertising, it set the bar high in a bid to deter other operators from following suit.

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