Betting on politics: Always read the fine print

Matthew Partridge explains why it's vital that you always read the terms and conditions on every bet you place.

Most bookmakers are extremely honest. After all, if they didn't treat their customers properly they would quickly go out of business as no one would want to bet with them. However, they can occasionally become embroiled in controversies over disputed bets.

Earlier this year retired bookie Albert Kinloch sued Coral over a bet he made in 2011 on whether Rangers would be relegated. When Rangers was subsequently dissolved, reconstituted and readmitted to a lower division, Coral claimed that this didn't count as relegation. It also argued that the fact that it had offered particularly long odds was evidence of its intent. After a long legal battle, the Court of Session ruled in favour of Coral.

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Dr Matthew Partridge
Shares editor, MoneyWeek

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.

He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.

Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.

As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.

Follow Matthew on Twitter: @DrMatthewPartri