Political Betting: Betting Market Perplexes LDs

Political Betting (click their graph for markets) reports betting markets suggesting Labour winning in Ealing Southall. Meanwhile this is what the Libdemologists are telling their own members:

BY-ELECTIONS: “LIB DEMS BACKED FOR BY-ELECTION GLORY” SAY BOOKIES
The Liberal Democrats have been backed to win both of [this] week’s by-elections with William Hill, who have slashed their odds from 5/1 to 3/1 to win the Ealing-Southall by-election; and from 33/1 to 16/1 to win in Sedgefield. “The Lib Dems traditionally fare well in by-elections and as ninety per cent of the money we have taken for these two is being placed on that Party there is clearly an expectation that Sir Menzies Campbell’s leadership could be in for a boost next Thursday” said William Hill’s spokesman Graham Sharpe.

Text taken directly from William Hill press release, ‘Lib Dems backed for by-election glory’, 14/07/07

While there have been some surprises over the past couple of years, betting wise, the fact that the Lib Dems are being "backed to win" puts them in the same position as many of the fallers at the Grand National. A 40-horse race that one.