Next General Election Odds: Labour open as big Favourites

The country will be going to the polls on July 4 as Prime Minister Rishi Sunak has called a General Election.

We take a look at the Next General Election Odds markets as the campaign is set to get under way with Labour expected to win big and the Tories to leave power for the first time since 2010...

The rumours, well for once they were true. Rishi Sunak has just spoken outside Number 10 Downing Street in the pouring rain and informed the country that he has spoken to His Majesty the King and requested the dissolution of parliament and will call a General Election for July 4.

All the polling data indicates that this is one hell of a gamble for the Prime Minister. Labour are soaring high in the polls and the intended strategy of the Reform Party to field candidates in every seat, means that all logic (and indeed the odds) are saying that it is a General Election that he seems extremely unlikely to win.

As the starting pistol fires for the 2024 General Election, the odds here at Betfred are not exactly looking great for Rishi Sunak. In the Conservative Vote Percentage market, the 19.99% or lower bet is actually the favourite at 7/2.

A Conservative majority government is rated as a 25/1 shot, with a Labour majority as short as 1/10. Sir Keir Starmer’s party are 1/16 to have the most seats, with the incumbents 10/1 to have the most MPs in the next parliament.

If you think that the Tories could be near enough wiped out, then the odds don’t exactly say it is completely off the table. 0-49 seats is just 8/1 with 50-99 at 11/4 and 100-149 the betting favourite at 9/4.

With 326 seats needed for a majority, the smart money as we start is for a strong showing for Labour and a dire day for the Tories.

We’ll cover this ongoing story from now through to General Election day itself from our team here at Betfred Insights. Keep checking out our coverage from the Next Prime Minister markets through to key individual constituencies over the coming weeks as we follow the twists and turns from a betting perspective for the 2024 General Election in our Politics Betting Tips section.