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Punters Rushing to Bet on Easy Win for the Conservative Party

Conservatives tipped for win in upcoming General Election

Punters are rushing to place bets on the Conservative Party winning the upcoming general election.

According to odds comparison site, Oddschecker, 63% of bets placed on the Election have been on Conservative Party.

29% of bets placed on the Labour Party while odss on Liberal Democrats cut from 33/1 to 20/1.

The news comes hours after Prime Minister Theresa May this morning called for a General Election on Thursday 8th June.

Although she does not have the power to single-handedly make it happen, the consensus is the date will be agreed in parliament tomorrow with both the Lib Dems and Labour saying they will back a bill for an election.

Following her announcement this morning, the British public have been rushing to Oddschecker to check the odds for which party will win the most seats in just over seven weeks time.

The bookmakers have the Conservatives as overwhelming favourites with one bookie as short as 1/14, implying a 93.9% chance of victory with the current best odds just 2/17 (89.5% chance).

These skinny odds haven't deterred punters with 63 per cent of bets placed on the market for the Conservative Party to win the General Election since 11.00 am this morning's announcement.

The Labour Party are second favourites to win their first election since 2005 and the shortest price on offer is just 6/1 (14.3% chance), however one bookmaker has them at a massive 10/1 (9.1%).

Just under 29% of bets placed since the announcement have been on Jeremy Corbyn’s party.

Tim Farron leader of the Liberal Democrats, is using Brexit to form his General Election campaign and giving people the chance to “change the direction of our country”.

A strategy which has seen his odds cut from 33/1 to as short as 20/1.

4.5% of bets placed on the Most Seats market have been placed on Farron’s party, which makes them the third most popular with punters ahead of UKIP, who have accounted for just 1.4 per cent of bets and the Green Part

 

RationalFX forecast download table