Conservative Majority Looks Increasingly Likely, Bookies Say
Conservative Majority Looks Increasingly Likely, Bookies Say
The odds on a Conservative Party majority were slashed to the shortest in two years.
U.K. Prime Minister Boris Johnson has a 69% chance of winning a majority on Dec. 12, according to gambling exchange firm Betfair. When he became Tory leader and premier back in July, it was about a 30% shot. On Monday, Ladbrokes gave Johnson the same odds of winning a majority, cutting its odds from 1/2, or 66%, over the weekend.
“Political punters seemingly fancy a Tory majority at next month’s election and we’ve cut odds for the second time in as many days as a result,” said Alex Apati of Ladbrokes.
Analysts and traders study bookmakers’ odds to help predict the outcome of market-moving events, though their reliability was dealt a blow in the 2016 referendum on the U.K.’s membership of the European Union.
To contact the reporter on this story: Dara Doyle in Dublin at ddoyle1@bloomberg.net
To contact the editors responsible for this story: Chad Thomas at cthomas16@bloomberg.net, Flavia Krause-Jackson
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