UK Prime Minister Rishi Sunak’s Aide Placed Possibly Criminal Bet on July Election

The Guardian has uncovered that UK Prime Minister Rishi Sunak's top aide placed a £100 ($US128) wager on a July election just days before the leader's unexpected announcement that citizens would be going to the polls next month. 

Craig Williams, the parliamentary private secretary to the prime minister, made the online wager on the Ladbrokes sports betting site with odds of 5-1. It instantly raised a red flag due to Williams’ designation as a “politically exposed person.” 

Under anti-money laundering regulations, providers must carefully monitor politicians who utilize their services. This is due to the fact that legislators face a heightened risk of engaging in bribery or corruption, which consequently leads to money laundering. 

When opening the account, Williams would have been required to submit personal details, such as his date of birth and a photograph of his ID. Ladbrokes would likewise have known the location of the bet. 

Investigation by UKGC 

As reported by The Guardian, the operator referred the matter to the UK Gambling Commission (UKGC), which initiated an investigation. Wagering based on insider knowledge may constitute a criminal act. 

“I’ve been contacted by a journalist about Gambling Commission inquiries into one of my accounts and thought it best to be totally transparent,” Williams said in a statement after he was approached for comment by The Guardian.

"I put a flutter [wager] on the general election some weeks ago. This has resulted in some routine inquiries, and I confirm I will fully cooperate with these. I don’t want it to be a distraction from the campaign, I should have thought how it looks,” he added.

While they are banned in the US, prop bets related to political events are allowed in the UK. US regulators are also hesitant to permit wagers that could be influenced by individuals or where a select few might have access to information not available to the general public. 

Similarly, UK operators are extremely watchful regarding prop markets. Sportsbooks typically limit stakes, and markets are often halted when questionable bets are identified. 

Government Transition Very Probable 

Sunak unexpectedly announced the “snap” general election on Wednesday, May 22. The choice was unexpected as his Conservative Party has been lagging in the polls since early 2022. 

A snap election occurs when it is held sooner than anticipated or when it is not required. It is often employed as a strategy by a current administration to take advantage of vulnerabilities in the opposition. Nonetheless, the Conservative Party is anticipated to face a significant defeat in the July 4 election. 

Bookmaker Paddy Power offers odds of 1/200 for a Labour Party win, translating to an implied probability of 99.5%. 

Labour MP Jonathan Ashworth referred to the accusations against Williams as “truly remarkable.” 

“Rishi Sunak has sat on this information for more than a week but has lacked any backbone to take action. Once again Rishi Sunak has been exposed as utterly weak,” he added.