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Britain Elects Again: Betting Markets for UK General Election Light UpPublished June 4, 2017 by Ivan P
With the snap general election in the UK taking place Thursday, bet365 offers punters odds in many relevant markets.
This Thursday, the UK will hold the general election. Although the election wasn't supposed to happen until May of 2020, due to Prime Minister Theresa May's call for the snap election, which passed the House of Commons on April 29, 2017, the UK voters will be casting their votes on June 8.
The snap UK general election is an important development, as it will define the future of Brexit negotiations between the country and the European Union. This was the number one reason Ms. May felt new elections were required years before the schedule, as the Prime Minister believes the UK needs to sit at the negotiation table as a united force with clearly defined goals. At the moment, there are too many divisions in the Parliament, which could seriously hurt the negotiation process and, with it, the future of the country.
Place Your Bets
A future of the country may be hanging in the balance, but that is no reason for major operators not to offer odds on the upcoming general election. One of the biggest betting sites around, bet365 Sports has become famous for offering odds on all the major political and other events not related to sports. Bets can be placed via accessing the "Specials" tab on the website.
This important UK election is no exception, as punters have been given an opportunity to back the parties they believe will win most seats in the House of Commons and will make up the new government.
Theresa May's Conservative Party is currently favored to win the most seats and form the next government, with the odds of 1/20 and 1/9, respectively. The Labour Party, who are the official opposition at this time, are the second favorites, but the bookie only gives them an 8/1 chance of winning the most seats in the House of Commons, and 16/1 chance of being the one to form the new government.
All other parties trail by quite a margin, as bet365 quotes the Liberal Democrats' chances to win the most seats at 500/1, while punters can get 1000/1 odds betting on the Green Party or the UKIP.
As for the new government, bet365 offers a few options of possible coalitions that parties might form to gain the majority required to form the next government. Among these, the bookie favors a potential Labour and SNP (Scottish National Party) Coalition at 14/1 and the coalition between the Labour Party and Liberal Democrats with the odds of 33/1.
Other Betting Opportunities
Apart from the general bets on the parties to win the most seats and form the new government, bet365 offers quite a few interesting markets for the upcoming election. Punters can place their wagers on the overall Turnout Percentage, the number of seats by individual parties (Total Seats - over/under), and the name of the new Prime Minister after the election.
The bookie seems fairly convinced Theresa May will hold on to her position, with the odds of 1/9. Jeremy Corbyn, the leader of the Labour Party, is quoted at 5/1, while the Liberal Democrats' leader Tim Farron is the long shot at 500/1.