Wow, who expected that result!? Okay, anyone who correctly predicted a hung parliament can put their hands down now, you’ve probably just won yourselves a decent whack! However, the result of the 2017 snap general election in the UK has only asked more questions than it has answered.
Will Theresa May be replaced after suffering such a shocking night? What will come of Brexit and other potential referendums? Will there be another general election held in the UK before the year is out (potentially sending viral Brenda, below, into meltdown)?
Well, the bookies have been scrambling to get you these odds ever since the exit polls suggested the result last night, and Gambling Metropolis have a few choice markets for your perusal.
Although all the odds gathered were on point when this piece was written, be mindful of the fact that this is a breaking news story. Events and predictions can change in an instant, and 2016’s politics has taught us to be nothing but cautious when it comes to supposed political certainties.
We’ll begin with the most important question, who will take the UK forward from this snap election chaos. The market we’ve eyed up in particular is the prime minister in power on 1st January 2018, with Theresa May the clear favourite at 3/8 at Grosvenor despite a torrid evening.
Boris Johnson is "already on manoeuvres" claims Tory MP, who says the foreign secretary is "sounding out" a few colleagues about leadership.
— Jim Waterson (@jimwaterson) June 8, 2017
Labour Party leader Jeremy Corbyn comes in second at 3/1, a truly staggering achievement when you compare this with his odds when Theresa May called for the snap election back in April. Boris Johnson tops off the podium at 6/1, with Amber Rudd far behind the chasing pack at 33/1.
Up next is the Energy Group who have outlined the prices for the next leaders of the Conservatives, Labour and the Liberal Democrats. Boris takes gold this time for the former at 9/2, with Yvette Cooper keeping her position as Labour favourite at 7/2 and Norman Lamb topping the Lib Dem’s pile at 5/2.
Unfortunately, Energy don’t have odds for UKIP after Paul Nuttall stood down as leader due to a poor showing, with Nigel Farage even flirting with the idea of making a return to the political scene due to a hard Brexit now on shaky ground. Enter Betfair, who have priced Farage as 5/4 favourite to sure up UKIP’s future!
Former UKIP leader @Nigel_Farage said he might have ‘no choice’ but to throw himself back into politics pic.twitter.com/w8yySQ8DKv
— Good Morning Britain (@GMB) June 9, 2017
For anyone looking to capitalise on Brenda’s worst nightmare, Betsson are offering the price of another general election to be held in the UK during 2017 at 5/4. Odds of 57/100 of their not being another vote is the favourite, but there’s not much between them at this point.
Finally, 888 Group are looking at all the potential referendums that could be held in the wake of this hung parliament result. They chance a second EU Referendum at 101/20, with the heavy favourite of no for this category coming in at 1/20.
Another Scottish independence vote, or indyref2 as it’s well known, is up next. This is much tighter, as the SNP still holds a lot of power north of the border despite losing many seats. You can get evens for a second referendum to take place, with a not-much-worse 18/25 for it not to. Incidentally, Scotland to join the EU as its own nation is priced at 5/1.
This is the end of #indyref2. Needs to be off the table for at least a generation. #GE2017
— Murdo Fraser (@murdo_fraser) June 9, 2017
Finally, with the DUP potentially forging an alliance with the Tories, a United Ireland referendum debate might hit the headlines. However, at 13/2 for and 1/20 against a vote of this nature taking place, we think it’s highly doubtful.
Yet, you can never be certain with politics!
With regards to the bookies themselves, this political shock hasn’t seen them reeling quite as much as before – in fact, some are delighted. Theresa May’s short odds to win a majority share for the Conservatives still attracted a lot of attention, with reports that one punter placed £24,000 on that very outcome.
We reported that Betfair had taken £750,000 in wagers within 24 hours of the vote being called, and it’s estimated that this has been propelled to around £100million spent on the UK general election betting market as a whole. If true, this would firmly place this event as one of the most lucrative in history.
However, it wasn’t completely plain sailing for the bookies, with huge upsets being caused in particular constituencies – mostly by Labour.
Whatever the results, though, the 2017 snap general election is just another sign that political betting is here to stay!