Political betting in the United Kingdom may not be as popular as other forms of betting such as football betting or horse race betting. Nevertheless, the Britons take their political betting very seriously.
You may not feel this all around the year, but in the months leading up to a major political election, such as the General election, which is due pretty soon, you will notice major bookmakers in the United Kingdom opening up markets related to political betting.
One of the major markets of political betting today is the one concerning the next Labour Party leader. Everyone is heading over to the websites of the bookmakers to find the best information and the best odds on the next Labour leader.
Why Punters Are Concerned about Next Labour Party Leader
If you are living in the United Kingdom or if you have spent a considerable amount of time in Britain, you must be aware of how big, important and significant the Labour Party is. Each and every single incident concerning the Labour Party has massive implications in the UK political environment.
Since UK politics is relevant to every citizen of the United Kingdom and since the Labour Party is an integral part of British politics, everyone is always keen to keep an eye on the activities of the Labour Party.
This is why the election and the subsequent “ascension to the throne” of the next leader of the Labour Party is an issue that piques the interest of everyone including the bettors.
Political Betting Demand and Markets
Elections such as these open up a window of golden opportunity for punters to place bets on their favoured election candidates and wait for the results of the election. Based on the outcome of the election, the punters stand a great chance to win some incredible prize money from their bets.
Whenever there is a huge demand to place bets, you can bet (no pun intended) that there are bookmakers opening up market places to satisfy those demands.
Finding Odds on Next Labour Party Leader
As is the case with any form of betting, you need to get your facts straight before placing your bets on any election candidate. In other words, you need to have extensive knowledge of the candidates in order to have a clear idea of which candidate has the best chances of coming out of the election on top.
Knowing the candidates is not enough. Sometimes you have to research the UK political climate and how the smallest of political incidents may play a huge role in any one of the upcoming elections.
There are plenty of betting related websites on the internet where you can find the odds for the next Labour leader as well as supporting information which puts you in a better position to make a more informed choice and a more educated guess.
Media Coverage of Political Odds
Other than these betting websites, the other important source from where you can derive invaluable information about who is leading the race for the next Labour Party election is the news websites.
News websites may not always be the most reliable place to gather your information, but they do provide some details on the betting odds for Labour Party elections. If you take your political betting seriously and are adamant about placing your bet on the winning candidate, then do refer to news websites.
What is interesting is that these news sites on the internet extract their betting odds details from the various bookmakers that have opened up markets for the next election.
Thus, if you are finding it difficult to visit a plethora of bookmaker websites and collect data on betting odds for next Labour leader, simply read through news articles on news websites.
Paddy Power’s Prediction about Jeremy Corbyn
As things stand, the news websites are reporting that the race for the next Labour Party leader election is already a “done deal”. These statements were made based on the information supplied by one of the most renowned bookmakers in the United Kingdom, Paddy Power.
There is still a month to go before the results of the elections are released, but eager punters around the United Kingdom may not even have to wait for the announcement to be made.
Paddy Power has already started paying out on bets, and according to their assumptions the MP for Islington North, Jeremy Corbyn, is already in pole position to claim victory in the upcoming Labour Party leader elections.
Paddy Power are so sure about the victory that they have decided to hand out £100,000 in payouts to its punters even before the polling closed down.
Accuracy of Bookmakers and Punters
This is quite a remarkable incident, but it is not one that is unprecedented. Betting bookmakers are often known to hand their payouts even before official announcements on political elections are made.
One of the major rumoured reasons for that is the theory that betting websites often deal with punters who have inside information about political elections.
As a result, these websites analyze the bets that are placed on their markets and come up with a conclusion on which candidate is has won the attention and the favour of the punters.
Most punters are not influenced by political biases. Even if they support a political candidate, they are likely to not place their bets on that candidate if there is another candidate who is deemed to have a better chance of winning.
At the end of the day, punters are looking to make money, and thus they place their money only on those outcomes which are most likely to occur.
As far as this Labour Party leader election is concerned, the reason why the odds are in favour of Jeremy Corby is due to the fact that most punters and bookmakers believe that he has what it takes to become the next Labour Party Leader.
Odds on Top 5 Candidates for Next Labour Party Leader Election
You are advised to not blindly believe the words of Paddy Power or any other news website. The odds on the next Labour leader are available for the general masses to view on various websites. Here are some odds that would most certainly pique your interest if you do decide to place a bet at the eleventh hour.
- a) Jeremy Corbyn (6/4)
- b) David Miliband (10/1)
- c) Lisa Nandy (40/1)
- d) Dan Jarvis (6/1)
- e) Chuka Umunna (12/1)