Jeremy Corbyn’s rapidly increasing popularity shows no signs of abating and even the bookmakers are being forced to admit that he’ll be incredibly tough to stop in the race to become the next permanent Labour Party leader.
Ladbrokes make the Islington North MP the odds-on favourite at 1/3 to win September’s leadership contest having been a 6/4 shot last Friday and much bigger still until recently.
Matthew Shaddick of Ladbrokes said: “Corbyn’s odds have collapsed from 100/1 in the space of a few weeks. It now looks as if the Labour Party is going to deliver the biggest shock result in the history of political betting.”
A flurry of bets have been placed on the 66-year-old with money continuing to pour in following recent polling that suggested he was streets ahead of his nearest rivals.
It’s now 2/1 that Corbyn takes 50-55 per cent of the first preference vote while punters can get 4/6 on the jolly and Andy Burnham being in the top two at the final voting stage.
The deadline for supporters to register to vote on the outcome has now passed with technical difficulties processing so many new sign-ups meaning an extension was granted.
Meanwhile, Corbyn has recently been busy at a rally in Cardiff with 1,000 supporters turning out yesterday to hear him talk about issues such as abolishing tuition fees and protecting benefits.
Judging by that show of support it would appear that the bookies have called this one right as Corbyn mania continues to spread.
All Odds and Markets are correct as of the date of publishing.
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