Bookmakers make Conservatives favourites to win general election as Britons race to put bets on result.
LONDON, ENGLAND, UK (APRIL 18, 2017) (REUTERS) – Britons jumped straight into one of their favourite pastimes on Tuesday (April 18) by laying bets on who would win the snap general election, just minutes after Prime Minister Theresa May announced she was calling one for June 8.
“Christmas has come early frankly for the bookies, we love to get stuck into a political betting market like this. It is a very lop-sided one though, I must say,” said Jessica Bridge, spokeswoman for bookmakers Ladbrokes.
May’s Conservative Party (known as the Tories) are set to do well in the election, the bookies believe, with Ladbrokes putting them at 1/10 odds on favourites. Conversely the opposition Labour party, which is struggling under Jeremy Corbyn’s leadership, has been given odds of 7/1 to win the most seats.
Ladbrokes added Corbyn’s job was it risk, as they set odds of 1/5 for Corbyn to be replaced by the end of the year.
“So by the end of the year we think he will be out of a job and that the Labour Party will be looking for a new leader,” Bridge added.
Whilst May might be cheered by being odds-on favourite to win the election, bookies are now focusing on who will come second to add some excitement for punters over the coming weeks.
May later returned to Downing Street after meeting the 1922 Committee of Conservative lawmakers, local media reported.