Jeremy Corbyn’s Labour odds improve despite tough PMQs
Published:
Jeremy Corbyn is now a red-hot 1/3 favourite to win the Labour leadership election, according to Ladbrokes.
Despite an uncomfortable PMQs for the Leader of the Opposition, betting markets continued to move in his favour for his head-to-head battle with Owen Smith.
The latest odds implied the Labour leader had a 71 per cent chance of winning the membership vote.
Smith, having been as short as 5/4 a few days ago, is now out at as a 9/4 outsider to topple Corbyn, with Ladbrokes now offering odds of just 10/1 that Corbyn wins with over 70 per cent of the vote.
Angela Eagle has already ended her campaign to run after attracting less support than Smith, with the result announced on September 24.
Matthew Shaddick of Ladbrokes said: “Political punters do not appear to think that Corbyn fans will be bothered about his performances in the House, and the odds are he’ll be staying put.”
Having seen the support of his party dwindle across the year, Corbyn endured a difficult time of it at PMQs – Theresa May’s first as Prime Minister.
The new PM didn’t waste much time settling in to David Cameron’s shoes, firing out a series of digs at the under-fire Opposition leader.
But despite the strife of 2016, it looks increasingly likely that Corbyn will hang on to his role as Labour leader.
Ladbrokes latest betting
Labour Leadership Election
1/3 Jeremy Corbyn
9/4 Owen Smith
Corbyn Vote Share
20/1 Under 40%
8/1 40-45%
7/2 45-50%
3/1 50-55%
3/1 55-60%
5/1 60-65%
10/1 65-70%
10/1 Over 70%
All Odds and Markets are correct as of the date of publishing.
