Around 4th June 2009 - though I'm not betting on that! My most profitable betting over the last twenty years, both fixed odds and spreads, has been on election results - the trouble is that they don't come along that often. As with any form of betting it is important that you ignore what you might want to happen in favour of getting the odds on your side. This morning I had a four figure sum on Labour winning the most seats at the next election, whenever it may be, with Coral at 6/5. This is the best price available (obviously!) and it is also on offer from three internet firms but as I have a credit account with Coral I don't need to put the cash upfront. If Coral should shorten their price Ladbrokes go 11/10.
This is my reasoning:
(1) The geography of constituencies is in Labour's favour. They have a tremendous advantage in that if both parties were to get an equal share of the vote Labour would gain more seats than the Conservatives.
(2) By the time of the next election Gordon Brown will have greatly reduced the number of troops in Iraq (maybe even to zero) and the war there will cease to a large extent to be an issue damaging Labour.
(3) The Lib-Dems at present are no great threat to the Conservative vote but if they change their leader, which I think most likely before the next election, they will again make inroads in to the Conservative vote.
(4) The one thing that will be uppermost in Gordon Brown's mind will be winning the next election. As do all prime ministers he will manipulate the political agenda to that end.
(5) All the evidence shows that Tony Blair, highly popular when he came to power in 1997, was very unpopular towards the end of his tenure and the electorate may well be pleased to have a leader who is very different in style. Equally, David Cameron is likely to suffer from the "Blair clone" accusation.
(6) It's only around even money that Europe, the poison pill of the Conservative party, will yet again cause rifts damaging anough to jeopardise their vote.
One thing's for sure, our general elections are two-horse races and 6/5 is a sound bet for value. One opinion poll last weekend showed that Labour had recovered from their drop in appeal and were again two points ahead of the Conservatives. I am pretty certain that the Brown factor will give them a further boost when the results of this weekend's polls are published. Those who like to trade will surely be able to get out of any bet on Labour at a profit at some stage between now and election time but, barring a major upheaval - and as Harold said "A week is a long time in politics" - I'm in for the long term and recommend that you all do the same.