Betfair don't run their own book on anything - they allow punters to swap bets.
It might sound like a small technical difference, but it is central to their claims in the byelection that Labour are out of the running. When bookmakers offer odds they have to make a decision about the likely outcome when they set the odds, no such process takes place at Betfair.
But there is another lie within the Lib Dem claim - as Betfair are a swap service they offer a range of odds. At this moment in time the best odds for Labour are indeed 100-1. But at the other end of the market the shortest odds offered for the Lib Dems - 3 - 1 - are the same as the shortest odds offered for Labour.
Sunday, June 04, 2006
Correction - the Lib Dems are making it up
Contrary to my earlier post about the Liberal Democrats grasping at straws, Yellow Peril have now confirmed that the Lib Dems are just making things up when they claim "It's a two horse races" say bookies. The "bookies" they cite are not bookies at all: