As the date of the UK General Election approaches, the Conservative Party continues to attract the support of betting customers.
And, according to the prices on the UK betting exchanges, a Tory majority government appears to be the likeliest outcome, following Tuesday’s leaders’ debate.
The debate televised on ITV saw Boris Johnson and Labour leader Jeremy Corbyn argue over issues including Brexit and the NHS. It was generally regarded as a draw in polls conducted after the debate, but despite the lack of fireworks on Tuesday night, and the fallout from the Conservative party changing the name of its Twitter account to ape that of a fact-checking site, punters have been increasingly backing a Conservative majority over the last 24 hours.
Speaking about the current betting, the Head of Politics for Smarkets, Sarbjit Bakshi, said that the betting reflected confidence among punters about the Tories’ chances:
“Since the debate, Conservatives are now trading at 93% for winning the most seats in the next General Election, which is a slight decline from their highest ever price 95%. Considering the risk of Boris Johnson making some gaff to turn off voters, this result is the best that could be expected for the Conservatives.”
But Bakshi did point to a decline in support for Johnson personally, who is down to an 82% chance of being the next Prime Minister, having previously been at 93%.
The political atmosphere in the UK has been toxic for several months, largely due to the inability of politicians to find a consensus on Brexit, and although those conditions would usually be bad news for an incumbent government, punters seem to think that they will come out on top. The election itself will be held on December 12.