Guido just stuck even more money on the Tories being the biggest party post-election. Note the bet terms carefully – the biggest party. The prices have admittedly moved further against the Tories since last month when Guido stuck £50 on Betfair. Guido now has a few hundred on ‘em at prices up to 3.5, which seems too generous to resist. Crazy?

Last night the Tories took a seat off Labour in Sunderland, elsewhere in Dover there was a big double-digit percentage swing to Cameron, in marginals Labour lost votes. The Tories will also get a bounce from next week – despite the BBC trying desperately to develop a narrative of disillusionment and more defections – which should move the betting prices.

Why take the biggest party bet? Four reasons; Scotland and boundary changes are going to hurt Labour, thirdly the Ashcroft marginal machine is where the real battle is, not in Labour’s heartlands where traditional voters disillusioned by Blair can return to Labour without making a blind bit of difference. Finally, when politics re-starts for real in parliament, Gordon’s big-tent gimmicks will be forgotten in that adversarial atmosphere.