So this morning a press release from OddsMonkey arrives titled 'Starmer odds cut further to become Labour leader'...
"Sir Keir Starmer has seen his odds cut further as he continues to be the firm favourite to win the Labour leadership election" it states "...Starmer is now as short as 1/4 to win, ahead of his nearest rival who is seen as Rebecca Long-Bailey, very much the candidate who would follow the Corbyn party line and has the support of Labour's biggest campaign group Momentum. Lisa Nandy and Emily Thornberry are also still battling to take charge, but look to have big challenges on their hands to take over..."
OddsMonkey spokesman, Peter Watton, added: "This is very much a two-horse race with two very different candidates. Sir Keir is very much more to the centre than Jeremy Corbyn, but he has also won strong union support hence his odds coming into 1/4. But at 4/1, Rebecca Long-Bailey the left-wing candidate still looks a very good price, as she is the Momentum candidate and their power in the grassroots can't be underestimated. The odds suggest this is over, but we are not so sure."
Of course, it's all about getting punters to part with their money but is it ethical to turn a political party leadership contest into some kind of horse race...and a 'two-horse race' at that?
We questioned Peter Watton about it all...
What kind of people bet on a Labour Party Leadership race?
"Well politics in general has become a hugely popular market, and it has thrown up some huge wins like Donald Trump winning and the EU referendum and we know a lot of Westminster watchers love to have a bet."
Are they bothered about the outcome or is it about winning a bet?
"If you put a bet on, you probably are thinking about winning and you would probably be surprised how many people from the opposition think something might be a good price."
Does it matter if it's politicians they are betting on - or could it be the first throw-in at a footy match, who comes first in a snail race or something?
"I think people who bet on politics have a real interest, unless it is more generic like the General Election then you can find a whole range of people taking a punt."
Do betting odds take away the emphasis on policies from the candidates and are they treated as mere 'horses' by punters?
"I think the odds can help drive someone, for instance Rebecca Long-Bailey at 4/1 she probably thinks that is a bit insulting and it might help get her campaign going, and the danger with being odds-on like Sir Kier Starmer, is do they think it is a done deal already?"
Is it ironic that people are betting on the candidates when Labour had in its manifesto curbs on betting companies?
"Labour are not looking to ban betting, political betting is often one of the more fun markets to get involved with."
Is it fun or does it all leave a bad taste in the mouth?
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