Betfair Politics – Labour shortens odds, but all markets point to Tory victory on 8 June

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, which holds a 5/5 performance rating on Bookmaker Ratings, prices a Conservative Majority outcome at 1.16 (86% chance), against a ‘No Overall Majority’ result at 8.6 (11% chance of outcome).

Katie Baylis

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.”

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