After a resounding defeat in a Scottish by election British Prime Minister Gordon Brown is holding onto his position as top dog by his finger nails.

As the economic crisis in the UK continues to deepen many shrewd punters are placing wagers that the unpopular Scotsman may be out of a job by September despite many in his cabinet coming out to defend him over the weekend.

Betfair, always one to be active in any market you care to mention, is offering odds of 4.2/1 that he will go between July and September 2008, but the clever money seems to be on a move out of office between October and December 2008 with the odds falling to 2.2/1.

The market for Gordon Brown has taken a serious turn for the worst over the last few days with the by-election defeat and MPs openly talking about a leadership challenge, perhaps as early as August but more probably in the Autumn at the Labour Party conference.

Gambling on politics has become a very popular pastime over the last couple of years with a number of interesting bets available at places such as Betfair.com. The only concern that some gamblers may have is the fact that your money could be tied up for some time, even if ultimately your gamble proves a success.

However, the old saying ‘a week in politics is a very long time’ has never been more true and odds and bets can change in seconds.

Many in the land based casino industry believe a new Prime Minister might attempt to revive plans for super casinos across the country.

In neighbouring Ireland the Government is hoping to attract more casinos to the country as they see it to be an important revenue stream in difficult fiscal times.

The hope is that the same thought process would filter through to White Hall if a change in leader occurred.

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