Politics
Why can you still back May to leave at 1.15?
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There are laws in place to prevent betting companies from such practices.
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"In the event of any ambiguity over an official announcement, Betfair may determine, using its reasonable discretion, how to settle the market based on all the information available to it at the relevant time. Betfair reserves the right to wait for further official announcements before the market is settled."
There's your legal disclaimer. |
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"reasonable discretion" wouldn't cut it.
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It would be like paying out for England as World Cup 2018 winners
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resigning is not same as leaving post
she is resigning we do not know if she is leaving post |
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1.01 Betfairs legal team would beg to differ.
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As would mine.
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Best of luck in suing them, but I wouldn't put any money on it.
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http://www.legislation.gov.uk/ukpga/2015/15/schedule/2
Consumer contract terms which may be regarded as unfair ..... A term which has the object or effect of giving the trader the right to determine whether the goods, digital content or services supplied are in conformity with the contract, [b]or giving the trader the exclusive right to interpret any term of the contract.[/b] ..... |
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Just spoke with CS, who couldn't give me an answer. I also have screenshots of CS saying that a replacement isn't needed. Basically, they don't really know.
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I'll just side with common sense and the market rules on this one.
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They don't know, rightly or wrongly it's the traders who have called it as when a new party leader gets sworn it.
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Yes several times since Mays announcement on Friday they have been swamped with calls about this market & as nice as they are can only go by what they have been told by the traders upstairs.
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"We're aiming to update the market rules once more information has been obtained". I guess the traders are discussing what to do.
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Best advice I can give you Lifter is don't put anymore money into this market, I'm now in a winning position but the rules are a shambles & the best thing they should do is suspend the market until they are prepared to clarify on the forum what they deem to be an 'official leader' in this political context.
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All the best to us all involved in this market.
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This market has the potential to flip dramatically. All it would take is for the Conservatives to announce a temporary leader for the election period. I've speculated in a small way on this and will hold until we transition 7th June.
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What would be the point of a temporary party leader other than the PM? There's nothing to "do."
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No chance of May being replaced when she's agreed to stay on the interim period remember she loves this country so she's not going anywhere until a replacement has been found.
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The country must have a PM, she would have to appoint a deputy if she stepped down. The tory party doesn't require a leader, the chairman can cover for any leader's duties.
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She is remaining as PM until a replacement has been found yes, but the Tory leadership will likely be vacant.
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Not vacant until a replacement has been sworn in according to Befair, please trade wisely.
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According to a couple of confused staff is not according to Betfair.
I've been told that "Basically, the market will be settled once Theresa May officially ceases as the conservative leader", and that we don't need a replacement leader to settle. Which aligns with the market title of "EXIT Dates" and the market rules of "When will Theresa May officially cease to be leader of the Conservative Party?". But yes, trade wisely, folks. |
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They probably want to wait until there is a new leader before settling the market and paying out. But will suspend betting when May stands down in June. That's the only thing I can think of for a couple of CS saying that differing story.
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This thread is still going strong
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https://conservativehome.blogs.com/files/snpc-01366-2-1.pdf
Leadership Elections: Conservative Party Standard Note: SN/PC/1366 Last updated: 7 December 2005 Author: Richard Kelly and Paul Lester Parliament and Constitution Centre page 9/19 5. Timetable When the position of Leader becomes vacant, Rule 1 of the procedure states that the Chairman of the 1922 Committee shall arrange for an election process to begin “as soon as practicable I.e the timetable begins only when there is a vacancy. Present arrangements are identical in terms of this timetable. If the position is vacant she has ceased to be (like the dead parrot above) Yours in the law Perry Mason PS there must also a grave danger that any bets struck AFTER her intimation that she would be resigning etc. will be voided as betfair CS have involved themselves in 'clarifications' and these were not made available to all participants on the market thereby creating an uneven playing field. |
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To be fair, that clarifies about 80% of the debate in this thread.
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"BF don't give a fcuk about that, they do what they want."
To be fair that clarifies 100% of the debatate on this this thread, we're no longer betting on common sense but on Belfair's interpretation of common sense, please continue to trade wisely. |
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No, there was a big discussion, with many of the opinion that May won't actually step down in June, that she would continue. I'm betting against that theory under the "When will Theresa May officially cease to be leader of the Conservative Party" market. Others are betting she will stay on as leader until a new one is chosen.
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