‘Suspicious’ Bets Placed on John Healey to be the New Chancellor… Hours Before Public Announcement

The Gambling Commission has been urged to investigate reports that a flurry of bets were placed on John Healey to be unveiled as the new chancellor… hours before the news was made public.

Healey last served as the defence secretary under Keir Starmer, but resigned in June and has no government experience in economic affairs – hence quotes as long as 140/1 with some bookmakers on him to be unveiled as the new chancellor.

Shabana Mahmood was the 1/5 favourite, which is an implied probability of 84%, but Andy Burnham – in his first cabinet reshuffle as Prime Minister – opted for Healey instead.

A number of bets were placed on that outcome on the morning of August 20, with Healey officially introduced at 18:00 GMT.

That has sparked claims of inside betting, which is a crime punishable with fines and even imprisonment.

Suspicious Activity

The MP for Newark, Robert Jenrick, has called for a full investigation after alleged suspicious bets were placed at 08:00, 10:00, 12:00 and 13:00 on the day of Healey’s appointment.

Those four wagers, placed at odds between 80/1 and 140/1, have now been formally reported to the Gambling Commission.

It has been reported that the veteran politician had been earmarked for the role of chancellor weeks in advance, but that meetings had been held in secret and information kept within a ‘very, very tight’ circle.

Indeed, the Daily Mail has reported that meetings between Burnham and Healey were held behind closed doors, with trusted advisers and minders told to leave the room.

However, it is necessary for various people – Labour MPs, civil servants and even the police – to know in advance when any significant parliamentary appointment is made.

And that’s why Jenrick is calling for a full inquiry, to ascertain whether any individual with inside knowledge had placed the bets in question.

“The watchdog should investigate this suspicious activity,” he said. “It was only last month that a former Tory MP pleaded guilty to cheating at gambling over the timing of the general election. It would be outrageous if someone at the top of the Labour party has done the same.”

The Tory MP to whom Jenrick refers, Craig Williams, was charged with cheating at gambling earlier this year when he used privileged information to bet on the date of the 2024 General Election.

At the time of writing, the Gambling Commission is yet to comment on the Healey case or confirm if an investigation will be undertaken.

Cheating at Gambling

As per the Gambling Act 2005, so called ‘cheating at gambling’ is a criminal offence.

It had rarely been enacted until the scandal that engulfed the General Election, which has seen 15 people charged with cheating at gambling in all.

They include Williams, who admitted using his knowledge of the date of the General Election to place bets of £22.50, £100 and £250 on that particular market with the Betfair Exchange.

It was later confirmed that those wagers were placed in the days before the then Prime Minister, Rishi Sunak, had publicly confirmed the date in the press. Williams was accused of using ‘highly sensitive and confidential information to place bets and to profit,’ and will be sentenced next year.

As many as 14 other individuals have since been charged with similar offences. Amy Hind, the wife of Conservative Party employee Anthony Hind, placed a series of bets on the General Election – and was stopped from betting more than £700 twice on the outcome by her bookmaker.

All of the other co-defendants have pleaded not guilty and will go to trial in September 2027 and January 2028.