Political Gamblers Back Cruddas
This week has seen some heavy betting on Jon Cruddas to be Labour's next deputy leader. Following his strong performance there was a marked movement in the money on Cruddas which was picked up on by Mike Smithson, here.
Mike wrote:
'Most of us have opinions about political outcomes - gamblers are prepared to back up their views with hard cash and that’s what these charts are showing.
Mike wrote:
'Most of us have opinions about political outcomes - gamblers are prepared to back up their views with hard cash and that’s what these charts are showing.
The big “winner” amongst the outsiders was the only non-minister - John Cruddas who, until now has suffered from the lack of name recognition. As the Independent reports this morning his support is now growing in the constituencies with many more coming out and endorsing him.'
Since then, it was announced on Wednesday's Newsnight that a considerable number of Newsnight viewers voted that Cruddas won the debate well ahead of all his other ministerial rivals.
Yesterday upon the close of CLP nominations, Cruddas received the second largest number of constituency endorsements:
Benn 77
Cruddas 68
Harman 59
Johnson 44
Blears 36
Hain 23
The trade union section is another part of the college which Cruddas is expected to perform very strongly in. Although there is no block vote, a union's official endorsements still make a difference in such a close contest. Luke Akehurst has posted the candidates' total support by size of affiliation as a guide to the alignment and size of the different unions:
Cruddas - 1,030,100
Johnson - 710,000
Blears - 323, 652
Hain - 101,066
Benn - 1,000
Harman - nil
Collectively these factors have seen the money follow Cruddas and William Hills bookmakers have cut Jon Cruddas's odds to 4/1 - his shortest yet.
Current prices:
Benn 11/10
Johnson 5/2
Cruddas 4/1
Harman 6/1
Blears 14/1
Hain 25/1
Benn and Johnson have always been the front-runners but it is Cruddas that has the momentum. Blears and Hain appear to be going backwards. If the bookies are right, Peter Hain only has a 3.8% chance of winning. No ballot papers have been issued, but it is increasingly lookin like a 4-horse race, with Cruddas nicely positioned for a surprise.
So, who's your money on?
Political Gamblers Back Cruddas | 5 comments (5 topical)
Political Gamblers Back Cruddas | 5 comments (5 topical)


