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Mansons

Bonanza for the bookies as ВЈ10m is placed in bets

By Jo Bowring, Evening Standard Last updated at 00:00am on 04.04.05

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The general election will produce the biggest political betting bonanza with more than Ј10million being gambled on the outcome, bookmakers said today.

Turnover last time was down because Labour were favourites but since the removal of betting duty and the advent of gambling via the internet, political betting has flourished.

Graham Sharpe, spokesman for William Hill, said: "We have already seen bets of Ј50,000 and Ј20,000 for Labour and two bets of Ј10,000 for the Conservatives."

William Hill have Labour 1/10 favourites to emerge as the largest party, with the Conservatives at 11/2 and the Lib-Dems 66/1.

But Hills have Tony Blair at 9/2 to exceed Margaret Thatcher's tenure at 10 Downing Street before standing down.