Odds on UK Election in October

6.09.2019, 18:00

There are indications that the UK government could hold a snap election early next month. This is according to various oddsmakers, including Betfair exchange. Bookies have reasons to believe that the nation could also be headed for a hung parliament. This is because they speculate a 58% prospect of there being no overall majority should an election take place.

Following the loss of a critical vote by Boris Johnson on Tuesday evening, speculations point to the possibility of a general election being called before the year 2020 begins. Boris Johnson’s humiliating defeat at the House of Commons after lawmakers made use of an obscure procedural motion to manipulate control of the parliamentary agenda from the government for the day.

328 votes worn the vote to 301 cast by Tory rebel and opposition MPs. Furthermore, the conservatives for the motion were thrown out for flouting the prime minister. This action was taken to stop the U.K.’s attempts at terminating official agreements with the U.S.

Odds on Snap Election and Brexit

After the mortifying defeat, Boris announced that he would be seeking the parliament’s support for a snap general election in October. The motion is set to be tabled on Wednesday evening. Boris requires two-thirds of the MPs for his election call to be granted. Although Boris risks a second defeat on the motion, Bookies are crossing fingers on October being the election month at 4/5 as compared to November at 7/2.

According to Betfair exchange, chances of an election being held before the year ends are generally minimal. Should the said snap election be held, the Tories would scoop the most seats at ½ and shortly behind lies Labor and Lib Dems. The bookies have previously been rather accurate when it comes to the Brexit drama, with short odds on Johnson becoming prime minister and odds on Brexit taking place in the first half of 2019.

Generally, the bookies believe the U.K. could come to terms with the possibility of a hung parliament at 8/11. Labour has all along remained adamant in their refusal to support the move for a snap election. The party, through their leader Jeremy Corbyn, has indicated that they would only support an election once the bill has been passed, not before. According to the Fixed Term Parliaments Act, Mr. Johnson requires two-thirds of all MPs to vote in favor of the bill for it to be passed.