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Scottish independence: Betfair pays out 'No' bets in referendum- even though vote is days away

Wednesday 17 September 2014 01:47 BST

Betfair has started to pay out bets to punters who have staked their money on a “No” result in the Scottish independence referendum — even though the result of the vote is three days away.

The online gaming firm said customers who placed bets with its bookmaking business, Betfair Sportsbook, will get their winnings now.

However, the move was a publicity wheeze as Betfair Sportsbook is only a small subisidiary of Betfair, which makes most of its money from operating a betting exchange where punters wager with each other.

Opinion polls suggest the Scottish vote will be extremely tight but experts think “No” is likely to win narrowly.

According to trading on the Betfair exchange, there is a 79 per chance of No and a 21 per cent chance of Yes.

Betfair Sportsbook said: “We’ve decided that ‘No’ is most likely to be the winning vote in three days’ time, so we’ve put our money where our mouth is.”

Which countries supported Scottish independence?

Show all 10

1/10Which countries supported Scottish independence?

Which countries supported Scottish independence?

USA - No

Earlier this summer President Barack Obama called on Britain to remain "a strong, robust, united and effective partner"

Reuters

Which countries supported Scottish independence?

Texas - Yes

With the largest secessionist movement in the US, some Texan political groups are backing Scotland to choose independence.

Getty Images

Which countries supported Scottish independence?

China – No

China’s Premier Li Keqiang has voiced support for a "strong, prosperous and united United kingdom." The state press has said a Yes vote would leave the UK a "second-rate” country"

Getty

Which countries supported Scottish independence?

Russia – Yes

Putin has stayed neutral on the matter, but some of his Parliament is vocally advocating for Scottish independence. Russian MP Konstantin Rykov now calls himself McRykov on Twitter, and has tweeted: "Scotland will be free"

Twitter

Which countries supported Scottish independence?

India – No

Although she later backtracked, India’s foreign minister Sushma Swaraj said: "Break-up of the United Kingdom? I don’t think there is any possibility of that. God forbid!"

Youtube

Which countries supported Scottish independence?

North Korea – Yes

The North Korean press believes independence "would be a very positive thing for Scotland." Kim Jong-un said he would look to trade with an independent Scotland.

AFP/KCNA

Which countries supported Scottish independence?

Australia – No

PM Tony Abbott said last month: "It’s hard to see how the world would be helped by an independent Scotland"

Dan Kitwood/Getty Images

Which countries supported Scottish independence?

Kurdistan – Yes

As the largest stateless nation in the world, Kurds across the Middle East are encouraged by the legitimate independence movement being enacted in the UK.

AFP/Getty

Which countries supported Scottish independence?

Spain – No

Perhaps in response the growing Catalonialism triggered by the Scottish referendum, Spain’s PM Mariano Rajoy said that an independent Scotland should only apply to join the EU from outside the organisation as a new state to deter other "solo adventures"

Reuters

Which countries supported Scottish independence?

Catalonia – Yes

The largest independence movement in Europe is cheering for a Yes vote, and hopes a referendum is something they too will be afforded. Barcelona Mayor Xavier Trias said: "Our wishes in Catalonia must be respected, just as the UK government has respected those of Scotland"

AP

A spokesman added: “To put the current prices into context, Betfair’s markets gave Mitt Romney more of a chance of beating Barack Obama in 2012, than Alex Salmond currently beating the No campaign on Thursday.”

However, Betfair exchange results will only be decided after the result of Thursday’s result is formally declared on Friday, although a customer can settle early if their counter-party agrees.

All the bookmakers report strong interest. One London-based gambler will collect £973,000 if Scotland rejects independence after staking £800,000 on a “No” vote with bookmaker William Hill.

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