Election, election, election… With the snap election less than 2 weeks away, the tension is rising. The one thing on everyone’s agenda is who’s going to be the big winner?
Since the announcement in April this year, the polls and bookmakers have been listing Conservatives as the winner. But tho closer to the 8th of June, the race becomes more competitive and unpredictable.
After Tories’ recent change in the political manifesto, Labour has started recovering. They went up by 4% in the recent polls, narrowing the gap between them and the Conservatives.
Politicians hit the campaign train and bookies geared up their best betting odds. There's something for everyone, even for those who lost the belief in traditional polling.
What Do The Polls Tell Us?
Before we jump to the bookmakers, let's have a look at the recent polls.
According to the most recent survey, conducted by YouGov/The Times, the Conservatives are more likely to win with 43% and Labour falls behind with 38%.
Polls suggest Conservatives are on a clear track to win, but Labour has gained 4% more supporters in last week alone, so nobody should ignore them yet.
What Are The Best Betting Odds?
In the past, all major bookmakers created betting odds for the up and coming election. Engaging not only the experienced punters but also the general public and inexperienced bettors.
The UK has four leading parties on which bettors can place their bets:
- Liberal Democrats
Bear in mind only one of the biggest parties, either Conservatives or Labour has chances of winning. Don’t be misled into thinking that betting on a small party will result in a larger payout.
All major bookmakers have set their bets on the outcome of General Election results and it’s the most favoured thing to wager on.
You definitely have more chances of winning if you bet on more detailed and specified odds, eg. number of seats for each party or the percentage of winning for particular parties.
Let’s have a look what the bookies have on offer and which one can be your best bet:
1. Betfair has one of the most extensive lists for the General Election odds with Conservatives leading the run. Additionally, you can bet on the next Prime Minister and the total percentage of turnout.
For the results of General Election the odds are:
- Conservatives - 1.11
- Labour - 13.0
- No Overall Majority - 7.0
You can also wager on the number of seats:
- Conservatives - 1.06
- Labour - 10.0
2. William Hill offers bets on the General Election Results and Most Seats.
As it stands at the moment, Conservatives are more likely to win @1.17 and Labour falls behind @8.00.
Again, Tories are favourable to take the most seats with odds @1.05 and Labour @9.0.
3. Paddy Power offers similar odds to Betfair. You can wager on anything from the overall majority after the election to who’s going to be the next part leader.
Unsurprisingly, Conservatives are likely to win @1.11 and Labour is yet again doom to lose @13.00.
Paddy Power also offers odd on specials, eg. Brexit or which region is going to be next to vote independence. This gives you great chances on placing a bet on a less popular market and it enhances the probabilities of winning.
4. Ladbrokes is another bookmaker offering an extensive list of possible bets. From the overall majority to the seat bound.
Conservatives are more likely to win with stakes @1.14 and Labour @8.00.
What Are The Best Odds For The UK Election?
If you want to know how much you can win, all you have to do is multiply the amount by the odds.
Let’s say you bet £10 on Labour winning the election with William Hill, where the odds are @8.00. For every £10 you place, you can win £80.
At Betfair, if you bet £10 on Conservatives taking between 390-419 seats with stakes @2.75, you have a chance of winning £270.
Hence, the chances of winning money by placing bets on less popular markets are higher. The more specified the odds are within the particular market, the more chances of getting it right.
Are The Odds Likely To Change?
Yes, the odds are likely to change, especially in the last weeks of political campaigns. But, whatever you bet on, it is the agreed amount between you and the bookmaker.
There are a lot of factors that influence the betting odds, which originally were created by an algorithm. They fluctuate in respect to what people bet on and how many people decide to wager on a particular market. Anything, that can change people’s stand on politics can have an impact on the bookmakers.
We will keep you updated on the latest odds so make you sure to check our website and Facebook page regularly. You don’t want to miss out on any opportunities to win.