Punters bet big on ousting of Saddam

GAMBLERS have staked £250,000 in a controversial new market that covers Saddam Hussein's chances of staying in power. The money has been put on bets with TradeSports, a Dublin-based online betting exchange, which normally specialises in more mundane matters such as US football matches and Chicago snowfall.

So far punters seem to be speculating that the Iraqi dictator will lose his grip on Baghdad some time between 1 March and 30 April.

On Monday, the firm's prices showed the chances of Saddam losing power by the end of March at 38% to 40%, the equivalent of 13/8 against in fixe-dodds terms. The chances of him being ousted by the end of April were 67% to 70%, the equivalent of 4/9 on.

Since November, as US troops have poured into the Gulf, client bets have priced in a growing likelihood of an end to the Saddam regime. The midprice on Saddam leaving power by the end of June has risen from less than 40% to 79%.

TradeSports chief executive John Delaney said: 'The issue of whether Saddam is in power or not at a particular date will be judged not on the say-so of Iraqi or US sources, but what the United Nations or other supranational bodies have to say.'

In Britain, bookmakers are usually careful to avoid offering bets that could be judged to be in bad taste.