Why is the bet a bad thing?

[jennywren08]

Not a conservative fan just a bit thick. Can someone please explain why it's bad that this bet took place?

It's Section 42 of the Gambling Act that's relevant, apparently.

'The UKGC has not confirmed whether it is investigating these specific cases, although it has issued guidance on rules for using confidential information to gain an advantage when betting.

'“If someone uses confidential information in order to gain an unfair advantage when betting, this may constitute an offence of cheating under Section 42 of the Gambling Act, which is a criminal offence,” a spokesperson told iGB.

'Section 42 sets out how someone can be seen as committing an offence if they cheat at gambling or do anything for the purpose of enabling or assisting another person to cheat at gambling.'

https://igamingbusiness.com/legal-compliance/ukgc-confirms-investigation-into-several-potential-election-betting-offences/#:~:text=A%20UKGC%20policy%20position%20paper,not%20in%20the%20public%20domain%E2%80%9D.

So the Gambling Commission are collecting the information coming in as a result of its shout-out to bookmakers, and is passing it on to the Police? Is that how it is working?

I remember the GC asking specifically for examples of bets on the date of the GE made in the first three weeks of May. I presume that either bookmaker, GC or Police (or all three) check whether the bet was placed by anyone 'Tory aligned' and specifically potentially 'Sunak aligned'?

That's interesting. I've seen rumours that a couple of lobby journalists apparently involved in exposing the scandal also had the same bet. But I imagine they'd be investigated as being politically exposed which would widen the remit. FWIW I hope the gambling commission and the police come down like a ton of bricks on everyone involved.

Its illegal as well as being imoral.
The annoying thing is that they wouldn't have even made huge amounts of money from it and these people are hardly skint anyway.
It just shows the mentality of most of the Tory party, they hold the public in contempt while seeing everything as a way to line their already full pockets.

Up to two years in prison!

(Although everything is suspended these days as the prisons are a tad full.)

It wouldn't surprise me if these Tories can't see what they did wrong. Taking unfair advantage is just normality to them.

I was very surprised to see that not only are 7 police officers being investigated for election bets, but worse, that the Met and Gambling Commission are to focus on whether the alleged use of confidential information constitutes cheating. It should be bloody obvious that it does. So very many dodgy people. I can't decide whether it's worse now, or whether the internet just makes it easier to spot than in the past.