General Election Betting / Mike Robb / 26 January 2009 / 1 Comments

The Labour Party now has just an 11 percent chance (odds [9.0]) of securing an overall majority at the next election, according to Betfair customers...

The move comes as the latest ComRes poll, released over the weekend, puts Labour a massive 15 points behind.

The Conservatives chances have risen five points in the same time to 62 percent (odds [1.61]).

A similar move has been seen in the market on who will win the most seats. David Cameron's party has been well ahead in that market for some time and are now given a 78 percent chance (odds [1.28]) of securing the most seats.

The change on Betfair over the weekend is the biggest seen in the market since the end of November, a time when Gordon Brown was enjoying favourable ratings on his handling of the economic crisis.

Punters now emphatically put the ball in David Cameron's court with the Tories favoured in all markets looking at the next general election.

The government now looks in real trouble and customers are throwing their money on it being goodbye Gordon come 2010.