General Election Betting Reaction: Up To £20m Wagered As Bookies Cheer No Majority
William Hill are estimating that up to £20m could have been wagered across the betting industry on the General Election with the majority of that having been wagered on the Conservatives winning a majority.
“The General Election result was a good one for us bookies as the Tories managed to fluff their lines in what was being billed as the ‘unlosable’ election,” said William Hill spokesman Joe Crilly. “We had a number of five figure bets on the Conservatives winning a majority, with some wagers at prices as short as 1/16, although one punter from London will be breathing a sigh of relief after backing the Conservatives to win the most seats to the tune of £200,000.”
The General Election could not have gone much worse for Theresa May and the Conservative Party and she could even step down as Conservative Party leader later today. With that in mind, William Hill make Boris Johnson the 9/4 favourite to be the next leader of the party followed by Amber Rudd at 5/1 and Phillip Hammond at 12/1.
The Election result throws up more questions than it answered with the future of Brexit up in the air. The odds of the UK leaving the EU in 2020 or later have been slashed from 5/1 to 5/4 while 2019 has drifted from 2/7 to 4/6.
The turnout (68.6% so far) for this election has far exceeded the bookies’ spread with Hills predicting 63% on the day before the polls opened.
In which year will the UK leave the EU: 12/1 2018 or later; 4/6 2019; 5/4 2020 or later
Will there be a second General Election in 2017: 8/11 yes; Evens no
Next Conservative Party leader: 9/4 Boris Johnson; 5/1 Amber Rudd; 12/1 Phillip Hammond; 14/1 Sajid Javid; 16/1 George Osborne; 16/1 Justine Greening; 20/1 BAR