Betfred – Labour Leadership market reaches £250,000 in wagers

UK independent bookmaker Betfred has revealed that it has recorded £250,000 wagered on the outcome of the Labour Party Leadership election. The bookmaker stated that its market levels were unprecedented, reaching its highest levels for a party political leadership campaign.

With candidate ballots due to be sent out today to party members, the bookmaker revealed that it had recorded 50% of its market wagers on left-wing market leading candidate Jeremy Corbyn (Betfred – 2/7)

Second favourite Andy Burnham (7/2) has received 30% of market wagers, whilst Yvette Cooper (8/1) is placed third with 15% of the market backing. It now appears that pre-campaign favourite Liz Kendall is firmly out of the running to contest the leadership having slipped to 80/1, as Betfred records that Cooper has gained only 5% of market wagers.

UK Bookmakers appear to have sided with the latest publications of YouGov opinion polls that have placed Corbyn in the lead with a 53% lead over Burnham 22% and Copper on 18%. 

Commenting on the market BetFred  Founder Fred Done said

Jeremy Corbyn’s unexpectedly successful leadership campaign has sparked unprecedented interest and no one can remember a swing in the odds as great as this, whether it’s horse racing, football or TV talent competitions.

“He is the Marmite candidate, you either love him or hate him.”