Furious punter slams ‘insider trading’ Tories – claiming they’ve left him £2,000 out of pocket over election bets
A PUNTER is furious at “insider trading” Tories who used secret information to bet on the election date — as a flurry of bets left him £2,000 out of pocket.
Adam Pickering lost out on a betting exchange after pitting his cash against others backing an early July 4 polling day.
He had spotted a significant spike in bets placed on the summer date the day before the election was called.
It turns out that — far from being genuine punts, based on a hunch — some of those gambling may have been top Tories with knowledge of Rishi Sunak’s secret snap poll plan.
The PM refused to be drawn yesterday on whether more Tories could be dragged into the flutter row — dodging a question on whether a Cabinet minister is involved.
The row has already engulfed the party as several figures all face a Gambling Commission probe.
Adam, 36, from Chelmsford, Essex, said: “I have been betting honestly here and I’ve been betting against people who are allegedly cheating the system to line their own pocket.
“The day before the election was called, a load of bets were placed for no rhyme nor reason. There had been very little speculation about an election coming.”
He is now calling on politicians to bring in stricter controls.
Semi-pro gambler Adam regularly monitors the betting markets, taking a keen interest in politics and cricket.
The married dad of one noticed on the evening of Monday, May 20, and the following day an increase in bets offered on the Betfair Exchange saying the election would be on July 4.
Analysis now shows several thousands of pounds in bets were placed on the day before it was called. Adam follows political figures and commentators on social media and none had mentioned the surprise date.
It led him to bet against the July 4 polling day, staking a total of £2,250.
He added: “I noticed a rise in the number of bets being placed. I thought that this didn’t feel right so I ‘matched’ the bets immediately.
“It now turns out some of these people may have been at the heart of government or had connections to Whitehall and if they had insider information that would be cheating the system — and me.
“I put on more than £2,000 on the basis of winning back £500. It was the equivalent of backing Manchester City when they play Southend. You expect Manchester City to win but winning £500 in that bet was good in my eyes.”
Anyone betting using inside information could find themselves in breach of the Gambling Act, carrying a penalty of up to two years’ jail.
Four individuals have so far been caught up in the row including Mr Sunak’s parliamentary aide Craig Williams — alleged to have placed a £100 bet on the July election — and a cop in the PM’s bodyguard division.
Tory candidate Laura Saunders is being investigated by the regulator for an alleged bet on the date. She is married to Tony Lee, the party’s director of campaigns who has now taken a leave of absence.
In a statement on Thursday, she said she will be “cooperating with the Gambling Commission” investigation.
Shadow science minister Peter Kyle told The Sun’s Never Mind the Ballots show: “The police officer has been suspended instantly. But Rishi Sunak is too weak to remove his people.”