Guido’s eyebrows have been raised all morning at the Lobby’s sudden outbreak of moralism over political betting. Anyone who has spent more than five minutes in SW1 will know that political hacks – who hear insider gossip all the time (though much of it is wrong) – are not averse to the odd flutter on matters such as election dates, seat projections and so on. The sources they trumpet have that insider knowledge…

Guido is therefore unsurprised to report that at least two Lobby journalists have privately admitted placing bets on the election date close to the announcement. Speculation was rife in Westminster on the weekend prior to the election being called. Indeed, there were press reports to that effect. By Sunday evening, true Westminster insiders were well aware the election was due to be called that week, with varying degrees of certainty. Amid all the excitement, is it the case that the lobby has inadvertently shot itself in the face?

It will be interesting to see whether any of the Lobby punters out themselves. If it’s a conflict of interest for politicians (contrary to Labour’s claims, insider political betting is not a crime), why isn’t it for well sourced Lobby journalists?