Novelty betting is hugely popular in the gambling market. Whereas success in sportsbetting requires an interest in and knowledge of a particular sport, novelty bets can be placed by anyone. Recently, the novelty market experienced record-breaking activity due to the referendum for Scottish independence.
In case you’re not familiar with the referendum, Scottish citizens were voting on whether or not the country should stay a part of the United Kingdom along with England, Northern Ireland and Wales. It has gained a great deal of press around the word, as is the case with any state that wishes to separate from the country – such as Quebec and the rest of Canada.
According to iGamingBusiness, UK punters wagered £12 million ($20 million USD) on the outcome of the referendum. Leading up to the vote, the likelihood of each potential outcome was split nearly down the middle. However, two to three days prior, we saw a shift leaning towards a ‘No’ vote.
“The referendum has surpassed all expectations for the total gambled with between £10 million and £12 million gambled industry-wide,” says Graham Sharpe, a spokesperson for William Hill. He also noted that the total amount wagered on the referendum far exceeded the total wagers on top football matches.
It was certainly the highest grossing novelty bet, and there are reports that it may have even surpassed popular sports matches. During the vote, betting operators also saw some of the biggest single wagers ever. At William Hill, one player from London bet £900 000 on a ‘No’ vote. Another player from Glasgow bet £200 000 on a note vote as well. ‘Yes’ bets were less popular, as the most any player bet was £10 000.
The average ‘Yes’ bet was worth only £10.
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