JEREMY Corbyn's victory has landed the biggest political gamble ever, say bookmakers William Hill, costing the industry a million-pound plus payout after his odds went from 200/1 no-hoper to 1/20 red hot favourite.
'I am unaware of any betting market, let alone a political one, in which a contender has gone from 200/1 odds, at which price Ethan Parker staked £10 (stake £1 to win £200) to 1/20 odds (stake £20 to win £1). It is unprecedented.' said Hill's spokesman Graham Sharpe. 'The gamble has cost William Hill alone a six figure sum, and with up to a million pounds gambled industry-wide it will be the biggest political betting payout ever'
CAN CORBYN SURVIVE TO LEAD PARTY INTO GENERAL ELECTION?
WILLIAM HILL offer odds of 7/4 (stake £4 for £7 profit) that Jeremy Corbyn WILL lead Labour into the next General Election, and 2/5 that he will NOT. William Hill have lengthened the odds for Labour to win an overall majority at the next Election from 7/2 to 9/2 (stake £2 for £9 profit) .The Conservatives have been cut from 6/5 to Even money (stake £1 for profit of £1) to win again by an overall majority, with a Hung Parliament offered at 11/8.
William Hill believe Jeremy Corbyn will cease to be Labour leader in 2016 and offer 7/4 about that happening. They also make him 7/2 to stand down during 2015; 8/1 2017; 12/1 2018; 6/1 2019; 4/1 2020; 11/2 2021 or later.
JEREMY CORBYN IS 7/1 THIRD FAVOURITE WITH WILLIAM HILL TO BECOME THE NEXT ELECTED PRIME MINISTER; WITH GEORGE OSBORNE 5/2 FAVOURITE AND BORIS JOHNSON 7/2 SECOND FAVOURITE.
CHUKA UMUNNA FAVOURITE TO BE NEXT LABOUR LEADER
WILLIAM HILL have installed Chuka Umunna as 3/1 favourite to become the NEXT elected Labour leader. Hills also offer: 7/2 Dan Jarvis; 5/1 Tom Watson; 7/1 David Miliband; 8/1 Tristram Hunt; 12/1 Yvette Cooper; Rachel Reeves; 14/1 Andy Burnham; 20/1 Caroline Flint; 33/1 Sadiq Khan. Others on request.
**BLACKBURN MAN LANDS 200/1 WINNER
ETHAN PARKER was the first political punter to bet on Jeremy Corbyn to become the next Labour leader with William Hill - snapping up their initial odds of 200/1 to a £10 stake. The Blackburn man is now £2000 better off as a result, and explained why he placed the bet: 'At 200/1 I couldn't resist. I felt it was going to get ridiculous, Labour were going to bury themselves and there was a potential cash reward just for watching it unfold! If you're certain something will happen, what do the odds matter?".