Labour Candidate Cleared Following Election Bet Investigation

A Labour parliamentary candidate who admitted to making a “stupid error” by betting against his own success in an election has been cleared after an investigation.

Lack of “Sufficient Evidence”

Kevin Craig, previously suspended as Labour’s candidate for Central Suffolk and North Ipswich, faced scrutiny after the Gambling Commission launched an inquiry into his actions. 

However, the commission has now closed the case, citing a lack of “sufficient evidence” to proceed, as stated in a letter to Craig seen by the BBC.

In response, the politician expressed relief but also reflected on the fallout of the investigation.

 “The actions of the Gambling Commission and William Hill triggered an awful process for me, the local Labour Party, and voters in our constituency,” he said. 

“Worst of all, it left the people of Central Suffolk and North Ipswich in limbo – and it devastated the Constituency Labour Party (CLP) and officers as much as it devastated me. It has caused a huge amount of pain,” he added. 

The controversy began when Craig admitted on social media in June that he had placed the bet without any prior knowledge of the outcome, intending to donate potential winnings to local charities. 

His suspension occurred just nine days before the election, too late to remove his name from the ballot.

Conservative Patrick Spencer ultimately won the seat with 15,144 votes (32.6%), while Craig received 10,854 votes (23.4%). 

The seat had previously been held by Dan Poulter, who defected from the Conservatives to Labour earlier in the year but chose not to stand in the 2024 election.

No Laws Were Broken 

Philip Barden, Craig’s legal representative, emphasized that no laws were broken. 

“The legal obligation is that a bet is not placed with inside information,” Barden explained. 

“Mr. Craig had no inside information and no way of knowing who would win the election,” he argued, adding his client’s betting history showed that he frequently placed bets on various outcomes, indicating he was simply someone who enjoyed gambling.

In light of the incident, Craig started working on a draft bill to ban election betting by candidates and political staff. 

His proposed Gambling on Elections Bill, presented to Labour leader Sir Keir Starmer, seeks to prevent such wagers to maintain electoral integrity.

At the end of October, financial world expert and short-selling icon Jim Chanos used X to express his concerns regarding the potential for small betting pools to exert excessive influence over critical global financial matters.