With just ten days to go until the UK hits the 2017 General Election polling stations on 8 June, Betfair Politics reports that it has recorded £22 million traded across its ‘UK 2017’ Exchange betting markets.
The Labour Party which started its campaign being given the longest ever opposition odds of a General Election victory at 18/1, is now priced at 11/1 as polls indicate some form of comeback.
Despite the Labour fightback, the Conservative Government still dominates all UK 2017 betting markets outright, with a Tory ‘Most Seats’ victory heavily backed at 1.07 (93% of outcome).
As polling day nears, Betfair Politics prices a Conservative Majority outcome at 1.16 (86% chance), against a ‘No Overall Majority’ result at 8.6 (11% chance of outcome).
With all markets and polls indicating a Conservative Party victory on 8 June, political punters may find the best value voting on the ‘Size of the Conservative Majority’ a critical decree for Theresa May’s postponed Brexit negotiations with the European Union.
Betfair Spokesperson, Katie Baylis, said: “There’s no doubt Labour are closing the gap in the polls, which is a sentiment that’s also being reflected in the odds and it seems Corbyn gave his Labour party a slight advantage after last night’s ‘debate’ with the party’s odds shortening into 11/1 from 13/1 yesterday on the ‘Most Seats’ market.
“In the last week alone more than 65% of bets have been on Labour. However almost 95% of money is on the Tories, who are still heavy odds-on favourites at 1/14.”