It was election week in the United Kingdom with the Conservative Party lead by Boris Johnson going head to head with the opposition party, the Labor Party led by Jeremy Corbyn. Other than the usual tension that comes with an election, there were no major happenings during the period. Johnson emerged the winner as had been long predicted by the bookies.
What they did not expect is the huge margin he won with, making this the worst performance of the Labor Party since 1935. It is said that many of its old supporters abandoned the party and joined one that promised the Brexit. Besides, many members of the Labor party blame Corbyn for the loss, stating that he is unelectable.
Corbyn, on the other hand, has promised to accept defeat and support the ruling party. Sir Keir Starmer, who previously worked with Human Rights as a lawyer is said to become the next leader of the Labor Party.
According to reports from the casino.org, the voter turnout was only at 67.23 percent of the total population. In a statement by William hill spokesman, the night was fairly quiet for the company with a small win for them. As soon as the ballots were closed, the exit poll was released, which was an immediate prediction for the fall of the Labor party.
The exit poll, which normally stirs gambling, also caused the death of betting as the company went 1/50 Conservative majority. In addition, within a few minutes, the exit poll triggered the pound to grow stronger than the dollar by more than 3 percent. This probably because the markets’ hopes on the restoration of the Brexit grew stronger, well, at least that explanation that appears to make more sense.
Johnsons win seems to have brought about immediate changes in the Gambling Industry that no one had predicted, not even the expert analysts who have been able for years to accurately make forecasts. On Friday, a day after the winner was announced, the cost of shares in some of the largest gambling companies in Britain rose. The cost of shares at William Hill went up by 5.3 percent while those at GVC went up by 2.25 percent.
All this happened before midday Friday. The gambling industry in the country has been facing very strict regulations by the Conservative government and you’d expect the casino organizations have tried to fight. As though they were not under enough pressure already, the Labor Party in its manifesto promised to come up with a new Gambling Act that would regulate gambling in the digital era.
The idea to introduce even tougher laws seems not to have sat well with most investors. However, the Conservative government has also promised to look into the Gambling Act, making it possible that they could set even tougher laws than those already in place. It may be too soon to tell whether it is time for the Gambling Industry to celebrate.
