Labour leadership election betting: Can anything stop Jeremy Corbyn winning?
If you follow the betting markets, the chances of Jeremy Corbyn staying as Labour leader are as strong as they have ever been, with Owen Smith’s odds lengthening markedly.
The best odds available on Corbyn are now 1/10 via BoyleSports , even shorter than the 1/7 odds he had a week previously. Conversely the odds on Owen Smith have lengthened from 6/1 last week to 8/1 via William Hill In a 2 horse race, that is telling you there is only one winner in it.
Why is Corbyn such a red hot favourite in Labour Leadership Election Betting Odds?
The reason behind this move in the betting market can partly be attributed to the ineffectiveness of the Smith campaign to paint himself as a hard left socialist with leadership qualities. It has not helped that in the past has been employed as a lobbyist by a large pharmaceutical company.
However the main the reason for the hardening of the betting odds in favour of Corbyn has been the make up of the Labour membership and those registered to vote in the election. Including an additional 180,000 who registered during a recent 2 day window. These are understood to be heavily populated by Corbyn supporters who will vote for Corbyn no matter what happens during the actual campaign. It is this which gives certainty to the betting markets that there is only one winner in the contest.
This has also been helped by the recent news from the High Court which has ruled that all the members who recently registered are eligible to vote. The NEC had previously attempted to prevent people who joined after Jan 12th from beig eligible to vote. It is believed that most of the people who have registered since an 12th have been Corbyn supporters. This has prompted the mostrecent move shortening Corbyn’s odds even further.
Backing this up, in their latest opinion poll, Opinium show Corbyn has more than twice the support than Smith, with 54% supporting Corbyn vs 22% supporting Smith.
The winner of the Labour leadership election contest will be announced on 24th September (though Corbyn has asked for this to be moved a day earlier to avoid clash with the Labour Women’s Conference).
Labour Leadership Election Betting Odds Comparison Table
See below Odds comparison table comparing the odds for the leading candidates. Click the Odds to take you directly to bookmakers site.
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