Super Thursday By-elections Preview

Matthew Shaddick

15 June 2022

Two parliamentary by-elections on one day is a treat for political punters and, as usual, Smarkets has the widest range of markets available.

First up, Wakefield. This should be an easy Labour gain. Two polls have been conducted, putting Labour 20 and 23 points ahead of the Tories. Labour were very strong favourites even before these were published and are now rated as 98% favourites to take the seat. Constituency by-election polls haven't always been accurate in the recent past with misses in Richmond Park and Batley & Spen. I suppose it's possible that the Tories will outperform these polls, with partygate and no-confidence stories fading and maybe the recent immigration issues working in their favour with a section of the electorate. Still, these polls are going to have to be very wrong for them to even get close. However, one election forecaster has a model which puts the Conservatives ahead (doesn't account for the constituency polls).

A Tory win would be an extraordinary result, and might even cast doubt on Keir Starmer's future. I don't think I'd be very interested in betting on that particular long shot, but the Tories to get over 35% at 8.0 might be worth a small investment.
There's a pretty interesting market on who will finish third here, with five very plausible outcomes. Mike Smithson made a case for backing the Yorkshire Party and I have seen others on the ground mention a very active campaign being run by an ex-Conservative independent Akef Akbar.
Tiverton & Honiton is harder to predict; the Lib Dems hit a 90% chance of winning at one stage but with eight days to go now stand at a 78% chance of success.  No opinion polls to go on here, but the big swings they achieved in Chesham & Amersham in June 2021 and North Shropshire last December would be enough for them to win this one. Still, Chris Butler has written a good piece arguing that markets and commentators may have over-hyped their chances.
Recommended bet: Wakefield Tory vote share over 35% @ 8.0

Matthew Shaddick

15 June 2022

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