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Why can you still back May to leave at 1.15?

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Replies: 717
By:
unitedbiscuits
When: 26 May 19 18:57
Settling when May leaves Downing St, is my take. Plenty of time to manage your position.  Everybody happy?
By:
donny osmond
When: 26 May 19 19:01
its when she stops being leader of tories

for me, thats when she stops being leader of the tories

which is when they say she is no longer leader, or she say, or it is reasonable to
infer she is no longer leader

that is more than her resignation, imo.
By:
lordnoise
When: 26 May 19 19:14
Lifter read again - the Telegraph quote says departing Prime Minister stays on in caretaker role. Shes not resigned as PM so 'caretaker' refers to her role as leader of the party.
By:
unitedbiscuits
When: 26 May 19 19:27
Many inferred that she was no longer leader of the Tories after the terrible reception in Europe to her offer that she could be " a bridge" between them and the USA in Feb '17.
Since, she has been a bullet-shield for Euro-sceptics to hide behind.
In reality, May has not led the Tory party since. Giving up last week was simply a bureaucratic exercise.

The only fair resolution is to settle her abdication not in May, when it was announced, or June, when starts the process of appointing her successor, but July, when she really "exits."
By:
Lifter
When: 26 May 19 19:29
Yes, she stays on as PM, despite not being party leader.
By:
Libertine93
When: 26 May 19 19:30
I am 100% sure that she is no longer the leader of the Conservative party on June 7th. I have absolutely no doubt about that. All the reports are also very clear that she is resigning as leader of the Conservative party on 7th June and will stay on as PM until a successor is found. During the period of the leadership election there will be no Conservative party leader. the position will be vacant.

The question is what Betfair interpret the rules as, as it appears they have gotten it wrong based on CS conversations they have had. However equally I have had a conversation with CS where they have very clearly stated word for word that it is when she resigns not when a successor is found.
By:
unitedbiscuits
When: 26 May 19 19:34
Disagree. Happily, you have a lot of time to mediate your positions. No whining afterwards, please.
By:
donny osmond
When: 26 May 19 19:36
if you are 100% sure on all known evidence the 2/1 on hear must be a godsend to you
By:
Libertine93
When: 26 May 19 19:39
It is Donny, I am quiet confident I will have a good day come June 7th. My concern isn’t that I am wrong about when May is no longer the Tory party leader. It is that Betfair are.
By:
Lifter
When: 26 May 19 19:42
https://twitter.com/theresa_may "Prime Minister and @Conservatives Leader".

Let's see when it changes.
By:
unitedbiscuits
When: 26 May 19 19:43
Laugh
Are you unlucky at chess, Libertine?
By:
Wallflower
When: 26 May 19 20:44
They are two different jobs  - PM and leader of party. 

Theoretically it quite possible for someone to be leader of the party and another to be PM. Doesn't happen - but it could.

The market is clear, its about party leader - nothing to do with PM.  Not involved really - I'm just confused as to why there is confusion (on Betfair's part)
By:
unitedbiscuits
When: 26 May 19 20:58
Well no. In peacetime, the PM's job is predicated on being the leader of the party entrusted to govern. Otherwise the country could veer a long way from democracy.
By:
jucel69
When: 26 May 19 21:11
Samaritans will be ringing off the hook when this is settled
By:
unitedbiscuits
When: 26 May 19 21:24
Before then
By:
dave1357
When: 26 May 19 21:28

May 26, 2019 -- 8:58PM, unitedbiscuits wrote:


Well no. In peacetime, the PM's job is predicated on being the leader of the party entrusted to govern. Otherwise the country could veer a long way from democracy.


more bollocks

the pm is simply someone who can form a government and who is asked to do so by the queen.

By:
unitedbiscuits
When: 26 May 19 21:32
Name a politician who is not the leader of his or her party who can await such a call.
By:
dave1357
When: 26 May 19 21:33
btw I have theorised a rational explanation as to the date of the 7th.  May might have thought that the date was confidential until she announced it on the 7th and she could do the trump/d-day stuff without anyone knowing, but she might have been bounced into announcing it on friday.
By:
unitedbiscuits
When: 26 May 19 21:37
Unfortunately, this mess is the only consequence of the the Brexit-front using May as a bullet-shield for the last 30 months.
By:
dave1357
When: 26 May 19 21:57

May 26, 2019 -- 9:32PM, unitedbiscuits wrote:


Name a politician who is not the leader of his or her party who can await such a call.


the fact that it is an unlikely scenario doesn't preclude it from being constitutionally possible.  In any case it is a red herring to the present discussion.

By:
LuckyAz
When: 26 May 19 22:03

May 26, 2019 -- 9:11PM, jucel69 wrote:


Samaritans will be ringing off the hook when this is settled


A June exit 1.07 gubbing will be Mays parting gift to us all very similar to Camerons 1.05 Brext Remain gubbing, I've checked with CS several times since Friday for clarification to avoid having to ring the Samaritans come 7th June.

Strongly recommend anyone else involved in this market does the same rather than listening to rampers arguing amongst themselves all day on their definitions of "resignation" rather than Belfair's discretionary definition of "...officially cease to be leader of the Conservative Party". Crazy

By:
jucel69
When: 26 May 19 22:15

May 26, 2019 -- 10:03PM, LuckyAz wrote:


May 26, 2019 --  9:11PM, jucel69 wrote:Samaritans will be ringing off the hook when this is settledA June exit 1.07 gubbing will be Mays parting gift to us all very similar to Camerons 1.05 Brext Remain gubbing, I've checked with CS several times since Friday for clarification to avoid having to ring the Samaritans come 7th June.Strongly recommend anyone else involved in this market does the same rather than listening to rampers arguing amongst themselves all day on their definitions of "resignation" rather than Belfair's discretionary definition of "...officially cease to be leader of the Conservative Party".


SO it's sometime in July then?

By:
LuckyAz
When: 26 May 19 22:20
I don't know if it will be July...but it won't be June unless all the new PM candidates decide to step aside for Borris. Wink
By:
Lifter
When: 26 May 19 22:22
It'll be when she ceases to be leader of the Tory party.
By:
LuckyAz
When: 26 May 19 22:25
It'll be when Betfair decides she is officially no longer the leader.
By:
tobermory
When: 26 May 19 22:27
The only person that can accept the resignation of the Prime minister is the monarch. May will be PM until she goes to the palace and tells the Queen she is resigning.

She is not going to the palace on June 7th and yet she is 'stepping down' on that date.

So what is she stepping down from on that date, other than the Tory leadership ?
By:
LuckyAz
When: 26 May 19 22:53

May 26, 2019 -- 10:27PM, tobermory wrote:


The only person that can accept the resignation of the Prime minister is the monarch. May will be PM until she goes to the palace and tells the Queen she is resigning.She is not going to the palace on June 7th and yet she is 'stepping down' on that date.So what is she stepping down from on that date, other than the Tory leadership ?


She's stepping down on 7th June to spark the leadership contest but crucially has agreed to remain in office until a replacement is in place effectively being a 'lame duck' prime minister.

By:
tobermory
When: 26 May 19 23:08
Why people think Prime Minister/Tory Leader are the same thing amazes me !

For practical purposes they almost always would be the same whenever Tories have most seats but FORMALLY they are different because a Tory leader can only be decided by the Tories and a PM can only be decided by the Queen.

So these things are formalities but surely the only 'official' results will be when these formalities are carried out.

The Queen has no role in the Tory party and plays no role in leadership changes.

The only official way for a Tory leader to cease being leader is to resign which she says she'll do on June 7th.
By:
tobermory
When: 26 May 19 23:11
'remaining in office' is a ministerial term that does not relate to Tory leadership.
By:
LuckyAz
When: 26 May 19 23:21
I would advise you & anyone else thinking of putting anymore of their hard earned money into this market to check with CS on their interpretation of the rules & what they define as an 'official leader' before parting with any more cash as no one deserves to be financially stung due to Bet fairs vague rules on this market.
By:
BARROWBOY
When: 26 May 19 23:50
2things come out of this thread.political markets involving dates on here are very dangerous & should be avoided.any advice offered by CS should be taken with a pinch of salt,if they give a definitive answer it’s a guess,adjudicating on market disputes is not in their job description.
By:
tobermory
When: 27 May 19 00:57
Yep I certainly wouldn't be betting much on it.

At last General Election they finally settled 'next Prime Minister' on May getting a majority for her Queen's Speech, something that was mentioned nowhere in the market rules.
By:
Lifter
When: 27 May 19 09:44

May 26, 2019 -- 10:53PM, LuckyAz wrote:


May 26, 2019 -- 10:27PM, tobermory wrote:The only person that can accept the resignation of the Prime minister is the monarch. May will be PM until she goes to the palace and tells the Queen she is resigning.She is not going to the palace on June 7th and yet she is 'stepping down' on that date.So what is she stepping down from on that date, other than the Tory leadership ?She's stepping down on 7th June to spark the leadership contest but crucially has agreed to remain in office until a replacement is in place effectively being a 'lame duck' prime minister.


On 24 May, Theresa May announced that she would resign as leader on 7 June, and resign as Prime Minister when a successor is elected.

By:
dave1357
When: 27 May 19 09:55

May 27, 2019 -- 12:57AM, tobermory wrote:


Yep I certainly wouldn't be betting much on it.At last General Election they finally settled 'next Prime Minister' on May getting a majority for her Queen's Speech, something that was mentioned nowhere in the market rules.


They were correct in that settlement.  The pre-election PM always stays in office until they either go to the Queen and resign or go to the Queen and say that they can form a government confirmed by the Queens speech passing.

They might be erroneously following the same logic here (confusing the offices of PM and leader).

By:
Lifter
When: 27 May 19 10:01

May 26, 2019 -- 10:03PM, LuckyAz wrote:


May 26, 2019 --  9:11PM, jucel69 wrote:Samaritans will be ringing off the hook when this is settledA June exit 1.07 gubbing will be Mays parting gift to us all very similar to Camerons 1.05 Brext Remain gubbing, I've checked with CS several times since Friday for clarification to avoid having to ring the Samaritans come 7th June.Strongly recommend anyone else involved in this market does the same rather than listening to rampers arguing amongst themselves all day on their definitions of "resignation" rather than Belfair's discretionary definition of "...officially cease to be leader of the Conservative Party".


The market rules are clear. Betfair will have to settle the market if May removes "Leader of Conservatives" from her profiles in June.

By:
Lifter
When: 27 May 19 10:08
There is "EXIT dates - Theresa May", "EXIT dates - Vince Cable", "EXIT dates - Jeremy Corbyn". The Betfair trading team know that the market is for leader, what some CS staff know is another story.
By:
LuckyAz
When: 27 May 19 12:12

May 27, 2019 -- 10:01AM, Lifter wrote:


May 26, 2019 -- 10:03PM, LuckyAz wrote:May 26, 2019 --  9:11PM, jucel69 wrote:Samaritans will be ringing off the hook when this is settledA June exit 1.07 gubbing will be Mays parting gift to us all very similar to Camerons 1.05 Brext Remain gubbing, I've checked with CS several times since Friday for clarification to avoid having to ring the Samaritans come 7th June.Strongly recommend anyone else involved in this market does the same rather than listening to rampers arguing amongst themselves all day on their definitions of "resignation" rather than Belfair's discretionary definition of "...officially cease to be leader of the Conservative Party".The market rules are clear. Betfair will have to settle the market if May removes "Leader of Conservatives" from her profiles in June.


I disagree, the only clear rule with this market is:

"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."

Looking at the current prices the majority of us have been advised by CS May remains the official leader until a new leader has been sworn in.

I have advised CS staff several times they should post their definition of officially ceasing to be leader in the context of this market to avoid any confusion so we can all play this market in good will with confidence but just get told it is an idea that they will raise with the traders, would suggest anyone else contacting CS does the same.

By:
Lifter
When: 27 May 19 12:36

May 27, 2019 -- 12:12PM, LuckyAz wrote:


May 27, 2019 -- 10:01AM, Lifter wrote:May 26, 2019 -- 10:03PM, LuckyAz wrote:May 26, 2019 --  9:11PM, jucel69 wrote:Samaritans will be ringing off the hook when this is settledA June exit 1.07 gubbing will be Mays parting gift to us all very similar to Camerons 1.05 Brext Remain gubbing, I've checked with CS several times since Friday for clarification to avoid having to ring the Samaritans come 7th June.Strongly recommend anyone else involved in this market does the same rather than listening to rampers arguing amongst themselves all day on their definitions of "resignation" rather than Belfair's discretionary definition of "...officially cease to be leader of the Conservative Party".The market rules are clear. Betfair will have to settle the market if May removes "Leader of Conservatives" from her profiles in June.I disagree, the only clear rule with this market is:"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."Looking at the current prices the majority of us have been advised by CS May remains the official leader until a new leader has been sworn in. I have advised CS staff several times they should post their definition of officially ceasing to be leader in the context of this market to avoid any confusion so we can all play this market in good will with confidence but just get told it is an idea that they will raise with the traders, would suggest anyone else contacting CS does the same.


"Looking at the current prices the majority of us have been advised by CS May remains the official leader until a new leader has been sworn in".

But the market is for "When will Theresa May officially cease to be leader of the Conservative Party?". Not sure why some CS staff are saying otherwise. Either way, I

By:
Lifter
When: 27 May 19 12:37
Either way, I'd rather go by the market rules.
By:
Lifter
When: 27 May 19 12:39
If on June 7th, Conservatives announce that Theresa May has ceased her role as leader of the Conservatives, what does Betfair do then?
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