£100 million has now been bet on the general election

A betting shop window ahead of a speech by Jeremy Corbyn, Leader of the Labour Party at a campaign rally at the Belmont Circle on June 7, 2017 in Harrow, United Kingdom.
Dan Kitwood/Getty Images

LONDON – Gamblers have bet £100 million on the outcome of Thursday’s UK General Election, according to new stats.

BonusCodeBets.co.uk works closely with bookmakers and has collected figures from William Hill, Ladbrokes, Bet365.com, Coral, BetFred, and Betway on political betting.

As recently as last Friday, just £30 million had been bet on the outcome of the election but bookmakers have seen a surge in interest in the final week before the election. BonusCodeBets.co.uk says much of the recent money has gone on Labour and the Liberal Democrats.

Theresa May remains the favourite to win, with bookmakers giving the Prime Minister an average of 80% chance of returning to Downing Street. However, Jeremy Corbyn’s odds have improved in recent weeks thanks to his strong campaign, with bookmakers increasing the probability of a Labour win from 15% to 28%, BonusCodeBets.co.uk says.

The late surge in political betting means 2017’s election has easily surpassed 2015, when £25 million was bet on the election, and the 2010 vote, when £40 million was staked on the outcome.

Alexander Kostin of BonusCodeBets.co.uk says in an email: “Over the last couple of years, we’ve experienced a significant increase in people getting involved in political betting. In fact, over the last few weeks, not only have we experienced an increase of over 50% in people looking to place bets ahead of the General Election, but the amount wagered has more than doubled to the money placed on the candidates in the 2015 Election.”

The biggest single bet is a £240,000 wager on Theresa May to win. Other notable bets include a £5 flutter on the Liberal Democrats to win outright made by a Londoner at odds of 1,000/1.

The biggest market on election day is whether there will be a hung parliament or a Tory majority, BonusCodeBets.co.uk says.