Is the Tory election betting scandal 'insider trading'? | LBC debate

With two Tory candidates being investigated for allegedly betting on the election date, Tom Swarbrick gives his reaction and hears these callers views on this latest Conservative party scandal.
This comes as two Tory candidates allegededly placed wagers on the date of the 4th July election, including Laura Saunders, who is the wife of the head of Conservative campaigns, with more names expected to drop.
2:28 - Tom Swarbrick says: 'That’s why you can’t get odds on the sun rising in the morning, because it’s a done deal'.
3:14 - Caller Reece tells Tom Swarbrick: 'Footballers get called out on this all the time... they get fined and suspended accordingly'.
4:23 - 'Audacity and self-entitlement is astounding', says caller Reece.
5:43 - Caller Simon believes the Tory election betting scandal is 'just history repeating itself' and is 'similar to the stories about sleeze that happened in the year before the last long-term Tory government'.
9:44 - Caller Steven says that 'even if it was just done for a laugh it would still be wrong', and believes it is 'tribute to Rishi Sunak's poor judgement'
10:46 - 'If I was a conspiracy theorist, I would almost think there's someone in Downing Street who doesn't want him to win the election', says caller Steven
Listen to the full show on Global Player: app.af.globalp...
#tomswarbrick #generalelection #ukpolitics #conservatives #betting #LBC
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[@jayjayaseelan7441]

If it is Labour, imagine what would the Mail, Telegraph, Sun and the Tory media would have said.

[@SlowhandGreg]

we had 8 days straight of beergate and 3 weeks on Ange's council house

[@DeniseWilliams-jr5xo]

Yes exactly yet the silence from these papers is deafening. Why does this not surprise me in the least. Our press is a national disgrace. It is easy to see why our media have been found to be the worst in the western world.

[@OneEyedDronie]

It is insider trading of a kind - but lets be honest... the story broke - heart of hearts - how many of us were truly shocked? The last 14 yrs have been littered with this kind of stuff - I have a theory - The Tories are now at a stage where they really do believe they are above the law, above any one else's judgement and that they can do what ever they like. Think of all the 'gates' - How many people actually got charged with a criminal offence??

[@mattspintosmith5285]

Exactly.

[@lizdocherty3067]

Two tier justice system in this country, one for them and one for the rest of the country

[@darlik1]

Bojo and Riche just got a small fine, a lot of students got fines of up to £10000 for just having a few beers.

[@parametr]

The first time you steal you are careful. The second time, less careful. After 14 years doing it and seeing everybody get away with it...

[@builder101-x9j]

The party is finished its Jimmy saville levels of hate the coutry has towards them

[@theotheoth]

It's not that kind of hate. It's more an intense loathing. The kind of loathing something like I feel for people who cannot bother to punctuate their comments (or even notice when the computer is underlining a word that have misspelt).

[@rogerthepigeon2950]

@@theotheoth you’ve missed a word. Maybe proofread your sarky comments next time.

[@frewthelookingglass860]

@@theotheoththe English language is descriptive, not prescriptive - there’s no real rules as long as communication is understood.

[@factstrumpprejudice6740]

​@@frewthelookingglass860 Pedant's always miss the big picture

[@martinwest7250]

​@@theotheoth'The kind of loathing something like i feel for people who cannot bother to punctuate their comments' How's that self loathing treating you?

[@GeoffV-k1h]

I'm betting there'll be more being exposed in the coming days.

[@garygalt4146]

He was one of the bankers that caused the banking crisis that ruined tens off thousands of small businesses to collapse And some idiots says he’s a decent chap.

[@easternbrown]

The strangest thing to me is that the bookies are still taking bets on the Conservatives losing the election

[@theotheoth]

Well go and put your life savings on it. What odds?

[@alexchamberlain9317]

​@@theotheothjust looked 1/50 😂😂

[@theotheoth]

@@alexchamberlain9317 Let me get this straight ... So for every £50 you bet, you stand to win £1, right? To win just one grand, you'd have to bet £50,000. I still say it's worth it. Almost risk-free. If only I was a betting man.

[@blinkin78]

@@alexchamberlain9317not even worth sticking on an accumulator for those odds 🤣🤣

[@JelMain]

Sunak's incredibly angry? No, the people are angry. He's just unbelievable. His security officer has been arrested, why haven't the others? Yes, it is insider trading.

[@marvellis6762]

Integrity. Professionalism and Accountability... at every level. The words of corrupt little Rishi Squatter. Who's very soon to be REMOVED!!!

[@gabrielmurphy3405]

Someone said something about judging them on accountability and integrity

[@Matthew-bu7fg]

Forget Ivan Toney. Kieran Trippier (another member of the England squad) was suspended for 10 weeks simply for telling his mates that he was moving to Spain and his mates then subsequently put bets on him moving to Atletico Madrid in the transfer window. If that warrants a 10 week ban then goodness knows what should happen to those responsible for this debacle

[@terry9819]

Next they'll be giving large government contracts to their mate down the pub or someone they put in the Lords. Oh wait...

[@geofflittler2035]

The day before yesterday Conservative Central Office released an advertisement saying "If you gamble on Labour, you never win' They very quickly were forced to withdraw it when the media got hold of this story

[@HistoryonYouTube]

I am surprised that so little money was involved.

[@bobalopadus8901]

Bookies tend to have limits on how much you can put on political bets for exactly this reason

[@HistoryonYouTube]

@bobalopadus8901 I didn't think of that one Bob!

[@delsmith5327]

If they do this with the election, makes you wonder what they do with stocks and shares.

[@yetidodger6650]

what about the ones who bet against the pond then Truss crashed the economy?

[@Lynnefromlyn]

So did Sunak in the 2008 crash which he engineered with others.

[@davidmatthews3093]

A Sunak fan? Really? A fan of a liar who refuses to answer the simplest question. Feeling sorry for the Police Officer? It gets worse.

[@grogery1570]

There was an instance where the Australian cricket team played a minor cricket country and a betting agency representative said they weren't taking bets on the outcome because you can't bet on things that will happen.

[@michaelbright9162]

Why is there a need for an investigation when the guy has admitted it?

[@mrdaveythebaby]

Either way, Sunak knows the truth of it. He just has no intergrity.

[@WilliamjameswestWEST]

ANOTHER FINE MESS.

[@iangascoigne8231]

Yes it is the equivalent of insider trading.

[@markgriffiths6540]

Just another extension of party gate...

[@dextercool]

Even if it isn't illegal, it is at least amoral, if not immoral. It's the optics, the mindset and the utter disregard!

[@reasonablearticalo]

Remember when Sunak said his government would have integrity at every level?

[@SewerShark]

I'm still baffled that betting is still legal in this country...AT ALL.

[@jfedererj]

Why is Saka in the thumbnail of a video referencing footballers betting? Are you lot serious?!

[@andyl7995]

For real!! We just went through this with the newspapers after the Iceland game, it's ridiculous. If you're insistent of having a footballer in the thumbnail, why not pick someone who is actually guilty of placing bets? Unbelievable

[@icklejack01]

Yes. And they should all face the full extent of the law.

[@monkeyboy8424]

Don't bet on Ritchie Sunak keeping his seat.

[@MarkInOxford]

Wow, now even ToryTom is enjoying sticking the boot in. RIP Conservatives.

[@Tom-w3d8u]

The crime minister is very angry about the betting on the election,he's just remembered that he has forgotten to get his bet on,😅😅😅😅😅😅😅😅

[@lokischildren8714]

Yes it's insider trading .this is how sunak made his money

[@barnigranero5882]

There is a bigger question here. What other information have members of the Conservative party used to make financial gain? What government decisions have been made for the sole purpose of financial gain of government ministers?

[@1953mr]

Footballers are called out for the simple act of betting.

[@JamesMillar-rn3rs]

HE'S THE BOSS. WHY OH WHY CAN HE NOT SIMPLY ASK THEM? It always baffles me why there has to be a inquiry. Why does no reporter just put this to him? Did you place that bet? Yes. Right, you're sacked.

[@kristianheadland8184]

Tonali has been banned for betting on himself and his own team in a game where he in control.

[@WilliamjameswestWEST]

SUNK BY SUNAK

[@james970027]

I guarantee most politicians make their money through insider trading if you examined the trade decisions they made in line with associated business changes or political decisions. Why do people think they "contract" with multiple companies at the same time while allegedly working "so hard" at their full time MP role? Its quite easy even to pass information on to family or less known about friends so that they also financially benefit from insider trading and then if they own a business, can claim you have done work for them to feed some of the profits back to an MPs Bank Account. Exactly why as an MP you shouldn't be allowed to work a second job period. They're already not held to the same standard of law as everyone else and parties are so corrupt themselves they would rather defend an immoral individual in order to maintain party reach as opposed to kicking them out of the role as should be done with prison time in cases.

[@sheilamiller9605]

It’s no different from card counting at a casino, insider training etc. It’s a crime!

[@molybdomancer195]

Other people placing bets are hurt by dodgy bets like this. They get worse odds. That’s on top of the danger that people with no integrity pose in everything they do.

[@Stephanie-wf6xr]

Corruption 😂

[@markbullen5989]

Will my mp be withdrawn from the ballot for shorting the vote. By betting on himself to lose?

[@kezzt]

Why is Saka in the thumbnail image? Was he caught in a betting scandal like Ivan Toney?

[@Danny_SE11]

The agenda against Saka is mental, there is literally a player in the England team that's just come off a betting ban but they like this anti Saka agenda, the new Raheem Sterling

[@kezzt]

@@Danny_SE11 I thought I was going crazy. I genuinely have no idea what relevance that man has to this story?

[@steveholmes381]

3:40 Not sure any footballer has placed a bet on when a game will take place.

[@jrb3006jb]

was one only £100 bet at 5/1 ? was it really worth it for what it’s done to the tories

[@njh1811]

Just more evidence for why they are being binned big time

[@MrChipz900]

Why have you used an image of Saka on the thumbnail?

[@blink93221]

Farage shafted nat weat with his GB boss aided and a betted by sunak and hunt, he is a fine one to talk.

[@jessehopper8996]

The bookmakers never lose on any bet they take, thats how they work. The people who lost are everyone else who put on a bet because any bet placed effects the odds, and therefore expected value (EV) for everyone else. Simply put, if one of these politicians wins £1000 they've gained that by effecting the EV of of everyone else by a small amount. If 1 person had a guarentee of winning, everyone else will have a lower EV by default because everyones EV must net out to less than 1.

[@iananthonyjames]

Not true. They lose bets where people have inside information.

[@davidjupp961]

What else would it be ?

[@JohnShaw-zm2pc]

One rule for them one rule for us look at covid. Get the conservative out vote Labour 😅😅

[@t2twanks]

There has probably been at least a dozen scandals one guy saying that he's a fan of Sunak and he's a decent guy, oh F*ck off 😂

[@davidevans2863]

So im not sure if this gets discussed as ive yet to watch the video. Betting on something that you know the result of in the stock exchange or in business would be insider trading. The bets made however is cheating under section 42 of the gambling act 2005, the definition of which was clarified by the gambling comission in 2018. "A Gambling Commission policy position paper dated August 2018 clarified that inside information is information known by an individual or individuals as a “result of their role in connection with an event and which is not in the public domain”

[@alundavies1016]

And cricketers

[@jmxtoob]

I don't really understand the outrage, actually. It seems bad and my first response was that they should be out on their ears. But then I think about it and who are the victims here? The first guy said they were derelict to the government, but they're not really, they didn't even leak the date of the election. The only victim is the company they placed a bet with, and sure, they probably have a complaint but I don't get all the appeal to "public duty" etc. With football betting etc. The issue is that the players and managers etc. are in a position to alter the fairness of the game.

[@Nice0n3]

Soooo rigging a bet is okay in your book? Go to Vegas and tell that to the casino bosses, see how they think on the matter... It also raises a very simple question: What else gets leaked and used inside the government? Public contracts? Policies? Funds allocations? Do you get the issue now?

[@jmxtoob]

@@Nice0n3 no, I didn't say it was ok, I just don't think the victims are the people identified in this call in segment. The gambling bosses in Vegas can kick you out for counting cards but it's not illegal. You're probably right that it speaks to the other grubby things they might do, I just kinda feel like this is a minor thing compared to the PPE scandal, for example.

[@simeondavidjones]

Politicians in todays society are bot about selfless public service. Its about what they can get out of it, for themselves. I wouldnt be surprised when Starner gets found to be soing similar in future years

[@philipburton9430]

1:55

[@alundavies1016]

It’s fraud

[@gabrielmurphy3405]

That's not a crime though according to them

[@LB-eb2wx]

Yep and thats criminal. Years of excuses from excusers who dont get they actively promote the next scandal. Another party leader who ran a company that caused having taxpayers bailing out RBS would hear nothing else until gone

[@alundavies1016]

@@gabrielmurphy3405 and that is a lot of the reason behind why they are looking at being wiped out.

[@barnigranero5882]

There is a bigger question here. What other information have members of the Conservative party used to make financial gain? What government decisions have been made for the sole purpose of financial gain of government ministers?

[@alundavies1016]

@@barnigranero5882 I’m hoping Starmer puts his prosecutorial hat on and announces some enquiries into a load of things once they get in.

[@catherinemartin6258]

If it was as labour Can you imagine the Tory main stream media would go nuts on it .

[@kevoreilly6557]

Of course it is … by literal definition

[@pip1723]

Taking the p××s right until the end it would seem.

[@JohnShaw-zm2pc]

I don't think Labour will have a huge majority. Its all spin. Labour needs every single vote. To get the conservatives out. Vote Labour. 😅😅😅

[@dh1380]

No discipline whatsoever in that government. Pure entitlement

[@dogblessamerica]

4:41 If you look at the amount of bets placed on the election date, there was a massive spike just before the announcement. So it's likely that people were, in fact, getting other people to put bets on as well. Everyone who put a bet on that day should face questions about whether they have contacts within the conservative party

[@margaretmullen2446]

Tories should change their name to the TRUMP PARTY

[@shaun906]

its like the greatest hits of political satire over 30 + years. culminating in the worst election campaign ive ever seen.

[@HA-jq1mu]

I wonder how long they’ve been doing this, they probably did the same thing last year

[@coppershark1973]

They are just corrupt. This is all normal to them. Money is all they care about. Nothing else. Nothing.

[@FRANKIECULLEN-r3g]

tory criminals.

[@1953mr]

This is the Tory mentality...... NOT all politicians are the same.

[@dsmdsm2186]

Why is Saka on the thumbnail? Could have used Toney, Barton, Tonali etc…

[@BrianM78]

From the Expenses Scandal, to ignoring lockdown rules they imposed upon us, failing on election promises, now this. I despise the political class. Edit. I forgot cash for questions and other stuff.

[@RobertSally-vu2tm]

Insider trading is legal for our Congress in America. Our government works for the oligarchy, im afraid the British suffer the same dilemma.

[@retrospiritsgaiden]

thick, and why bother for a few hundred pounds when its definitely immoral, and very likely illegal. it's all so odd and pointless, just like the last 14 years i guess.

[@markbullen5989]

Your man saying if Labour got in for three terms, would be as bad. Labour did serve for three terms up to 2010 so give your head a wobble

[@SARA-h7x1k]

Stop talking over your guests, it's really annoying

[@markbullen5989]

Imagine the engerland football team betting on loosing a game and then loosing.

[@MuslimDraco]

Is like asking is water H2O

[@MarkReynolds-c2o]

Yes, and if they are doing it on the date of the General Election for a small amount of money, what else are they putting their money into for larger returns, science and technology, arms, covid vaccine?

[@pfalzgraf7527]

It is the un-culture of no consequences to bear ever if you're in the governing party in the last ... heap of years! That breeds this kind of carelessness!

[@isbestlizard]

If they were a left-wing labour candidate, they'd be immediately expelled. If they were a friend of Kiers, they'd have the apology accepted and the matter would be considered closed.

[@RobONeill-b5e]

Yeah let's not worry about the future, inevitable, division which will happen n the Labour Party sooner or later. Concentrate on ridding ourselves on the real evil and then deal with that problem

[@WilliamjameswestWEST]

Honurable 😂😂😂😂

[@jeremygough1387]

It's only a few quid, who cares?

[@AnthonyWilliams-sh1gv]

Once a Tory

[@vincentblack7467]

I've heard Labour going to over turn Starmer and put khan in is place... Khan for PM..

[@JoeWedgwood-ik9zo]

Nice try Tory 😂

[@davidmatthews3093]

I’ve sent the drug squad to your address, you’re obviously on something.