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Next Labour Party Leader Betting – Latest Odds & News

Next Labour Party Leader Betting – Latest Odds & News

Update July 1st:

Corbyn has received vote of no confidence from his MP’s with 172 not having confidence in him, and only 40 supporting him. Corbyn says he is not going to resign but it seems inevitable that at the very least there will be a leadership contest against him which at least offers an opportunity to speculate on the Next Labour Party Leader betting market. Even his Deputy, Tom Watson has urged Corbyn to do the honorable thing and resign. Unsurprisingly so did the Prime Minister David Cameron, during PMQ’s.

There is an speculation that Angela Eagle is about to launch a leadership bid, though at time of writing this has not yet occured and our understanding is the delay is due to giving Corbyn the chance to do the honorable thing and resign.

Obviously if and when either Corbyn resigns or someone launches a leadership big, we expect events to move on very quickly from there. In what direction we can not be sure, but baring in mind what has been happening the last couple of days with the Conservatives, one can only expect the same for the Labour Leadership contest.

Next Labour Party Leader Betting News

Current betting favourite is Angela Eagle, the former Shadow Business Secretary. She is available at best odds of 4/1 with BetfredThis has slightly lengthened from 9/4 on Thursday.

Angela has taken over as favourite from Tom Watson, the deputy leader, and one of the few shadow cabinet ministers who have not yet resigned. He has drifted to best odds of  14/1 via Betfred  after stating that he will not stand for leadership (though Michael Gove said that too, so don’t ready too much into that!)

Second favorite is Owen Smith, who has come from nowhere in the betting a couple of days ago. He is available at best odds of 4/1 via Ladbrokes. This is after speculation that the ex shadow work and pensions minister is going to launch a leadership bid. 

Ignoring Hilary Benn’s public declaration that he will not stand  he is third favourite at 12/1 with Betfair. 

See below Odds comparison table comparing the odds for the leading candidates. Click the Odds to take you directly to bookmakers site.

If you are a new customer you can take advantage of Free Bet offers.

Jeremy Corbyn1/661/501/501/33*1/200
Owen Smith16/112/111/110/120/1*

(Scroll table to view all bookmakers on mobile or tablet)

The Background

The Conservative party are in disarray since the EU Referendum results, David Cameron has resigned and we are now facing a  contest to become the next Prime Minister. There is  now  a very real chance of Labour following suit with the sacking of Hilary Benn by Jeremy Corbyn and we’ll be following the next Labour Party leader betting very closely.

There was a series of rumours of a coup by some members of the shadow cabinet, causing Corbyn to sack his shadow Foreign Secretary in the early hours of the morning. Many of his colleagues followed Benn out of the cabinet with a vote of no-confidence looming heavily.

In her resignation letter to Corbyn, Alexander said: “It is with a heavy heart that I am writing to you to resign from the shadow cabinet. The result of the referendum last week means that our country is facing unprecedented challenges.

“More than ever, our country needs an effective opposition which can hold the government to account and which is a capable of developing a credible and inspiring alternative to an increasingly rightwing and backward-looking Conservative party.

“As much as I respect you as a man of principle, I do not believe you have the capacity to shape the answers our country is demanding and I believe that if we are to form the next government, a change of leadership is essential.” [source: The Guardian]

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