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September 5, 2020, GMT+0000, 23:15 pm
News Politics

The Confusing World of British Political Betting

Unless you have a degree In politics, most people are baffled by Brexit. We’d never heard about a backstop or a customs union but now they are mentioned every day. That’s not the only complex part of the political process, even placing bets on the subject has become rather complicated.

There are always markets on who will be the next leader of the main political parties and UKIP too. But the current situation needs a lot of thought as the British political scene becomes more and more confusing.

Corbyn the Next PM?

Take the odds of who will be the next Prime Minister. Labour leader, Jeremy Corbyn is the favourite to move into Number 10 with odds of 4/1 at Ladbrokes. Now that might get you thinking that bookies feel the future sees a General Election being held and Labour regaining power. Think again though.

Current favourites to win the most seats at the next General Election are in fact the Conservatives. They are as short as 8/11 at Paddy Power, so why is Corbyn favourite to be the next PM?  It’s all down to Theresa May and the fact she isn’t going to fight another General Election as leader.

The Semi-Finals

Therefore, a Tory MP must win two elections to become PM. Firstly, to become Conservative leader and then to win a General Election.  It’s like the odds offered when one team is already in the final being a bit shorter than teams that still have to win their semi-final. That’s why candidates such as Michael Gove are 6/1 at BetVictor.

Of course, it could get even more confusing if May were to finally sort Brexit out and then resign as PM but not call a General Election. Then the Tory runners in the ‘Who’ll be the next PM?’ market only need to win a leadership election to become PM. So, keep a close eye on the political markets but they could get even more complex as the months go by.

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