General Politics Betting / Maxliu / 19 April 2010 /

Betfair markets show that election is wide-open after Nick Clegg's game-changing performance in the first Live Debate.

The Conservatives are no longer favourites to win an overall majority at the General Election after a massive swing over the weekend, according to Betfair customers. The betting now suggests there is a 37% chance of a Tory majority (odds 7-4), with a Hung Parliament the new favourite on 58% (odds 8-11).

This is the first time since March 2008 that David Cameron has not been the punters' favourite to lead a majority government. Labour's chances of securing a majority, meanwhile, dropped from 6% to 4%, or from [19.0] to [27.0] in betting terms.

The odds on the Liberal Democrats forming the next government have been slashed from a recent high of [930.00] on Thursday morning to just [42.0] now, though that still represents just a 1.3% chance that Nick Clegg will be the next Prime Minister.

Betfair spokesman Mike Robb said: "Betting on the election was completely turned on its head over the weekend after polls showed a massive upturn in the public's opinion of the Lib Dems. Betfair customers aren't usually this affected by opinion polls, but clearly this time they feel they have had a game-changing impact on the race.

"With the next TV debate on Thursday this situation could be reversed once more, whilst another winning performance from Nick Clegg could propel the Lib Dems into real contenders. Whatever happens, it's wide-open now and sure to be a very interesting few weeks."

Meanwhile, Betting.Betfair will be hosting a Live Election Blog on Thursday evening as the second Leaders' Debate takes place.

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