It’s polling day in the UK, as the country decides today who will be the country’s Prime Minister from tomorrow.
Betting markets are open, and will remain open on polling day, so here’s a look at the latest election odds and all you need to know about betting on the 2024 General Election.
Election Odds: Labour Strong Favourites to Win
The recent polls and current betting markets are aligned, and they all point towards a strong night and victory for the Labour Party.
They are 1/200 to win the most seats in this election, and 1/5 to win an overall majority.
The latest YouGov poll, released on Wednesday evening, shows Labour winning a majority of more than 200 seats, aligning with the betting markets.
Labour Election Odds
In terms of how good Labour will do in the vote, the total seats market is pointing towards them securing 400+ seats, which would be a huge swing from the 2019 election.
Favourite in the total seats market is 400-449 seats, currently 5/4, while second favourite is 450-499 seats, which is slightly bigger at 11/8.
350-399 is next best at 11/2, the other brackets are all double figure prices, including 500 or more seats at 14/1, which would be a monster success.
Conservatives Election Odds
We’ve seen polls putting the number of Conservative seats either below 100 or just above it, and the total seats betting market agrees with this.
Favourite in the market is under, with 50-99 total seats priced up at 5/4 and just above that, we have 100-149 seats priced at 11/8.
A complete disaster, 49 seats or less, looks unlikely, but can be backed at just 9/1, while overachieving, and getting 150-199 seats, is available at 13/2.
Liberal Democrats Election Odds
The Lib Dems look set for a good night regardless of where they land, and this betting market is fascinating, because the favourite in the market is actually the top band.
These bands are smaller, but leading the way is 66 seats or more, which is available at 5/2.
Below that, joint second favourites, we have 56-60 seats and 61-65 seats, both available at 7/2, with 51-55 seats available at 5/1.
It looks like being 50+, a big result, and the betting on just how higher than 50 the number will be looks fascinating.
Reform UK Election Odds
Much talked about since the return of Nigel Farage, the Reform UK party look set to have MPs in the House of Commons in the new parliament.
Favourite for their total seats again in the upper number, but we are talking incredibly small margins. They are 7/5 to bag 7 seats or more.
Elsewhere, it’s 5/2 to get 1 or 2 seats, 7/2 for 3 or 4 seats and 5/1 for 5 or 6 seats. They’ve got a number of candidates who will need overall polls to be correct in their areas, for them to have a good night and get to that 7 or above number.
*All odds mentioned are taken from bet365, and correct at the time of writing, which was 11:30am on Thursday, July 4.
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