The UKGC has cleared Labour Party member Kevin Craig after betting on himself to lose his seat in the 2024 general election. [Image: Shutterstock.com]

Explaining the issue

The UK politician who bet on himself to lose in July’s general election has been cleared of wrongdoing. Kevin Craig was a Labour candidate for the Central Suffolk and North Ipswich seat, which he lost to the Conservative Party’s Patrick Spencer.

betting against himself was to soften the blow if he lost

The UK Gambling Commission concluded that the £800 ($1,014) wager wasn’t sufficient grounds for prosecution, and the Labour Party welcomed him back into the fold following his suspension. He claims that he places hundreds of wagers annually and betting against himself was to soften the blow if he lost, not for the £400 ($507) profit he stood to make.

Craig’s lawyer said that his client has “total exoneration” and that he in no way had access to any insider information. His legal team also noted his disappointment with the Labour Party as he only learned about his suspension from the political party through the public announcement.

Pushing change

Craig has now drafted the “Gambling on Elections Bill” to prevent any candidates from betting on elections in the future, sending it to Prime Minister Keir Starmer for consideration.

he doesn’t want any other candidate “to have their campaign killed off by a letter of accusation”

Explaining his reasoning for doing so while appearing on a GB News podcast, the ex-candidate said he doesn’t want any other candidate “to have their campaign killed off by a letter of accusation from the Gambling Commission that is subsequently proven to have no grounds.”

Not the only one in hot water

Craig’s bet came to the forefront after details emerged of numerous Conservative Party figures placing bets on when the election would take place before the actual announcement.

With no laws existing on lawmakers betting on elections, the possible use of insider information was the focus of the probes.

The first figure in the spotlight was former Prime Minister Rishi Sunak’s aide Craig Williams, who bet £100 ($127) on a July election date three days before the actual announcement. Other party members and some police officers placed similar bets.