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newsbetfair exchange reports over 1 35million was wagered on the uk general election within 24 hours of announcement

Betfair Exchange Reports Over £1.35Million Was Wagered On The UK General Election Within 24 Hours Of Announcement

We independently review betting sites. Sign-ups through our links may earn us a commission at no extra cost to you, this never influences our listings’ order.

Following the confirmation of the UK general election on Thursday afternoon, Betfair have reported that over £1.35million has already been wagered on the exchange with punters favouring labour early on.

Early Betfair Election Betting Favours Labour

The Betfair Exchange was extremely busy in the following 24 hours after the UK general election was announced with extremely high numbers already wagered.

UK prime minister Rishi Sunak stood outside 10 Downing Street this week and announced a general election, with voting set to take place on July 4th.

Despite the Conservative party leader announcing the general election it was the opposition who took an early lead in the betting – with Labour favoured over the first 24 hours since the market opened.

With the market open for just over a day, Betfair reported that over £500,000 was staked on labour to win the most seats and £200,000 wagered on Labour majority.

In a response to the early betting figures, a Betfair representative stated:”As both Rishi Sunak and Sir Keir Starmer head on the road for their election campaigns, punters have been putting their money where their mouths are, and a whopping £1.35m has been wagered on the Betfair Exchange UK general election markets in the last 24 hours.

“The majority of that has been in favour of the Labour party, with almost £500,000 wagered on them to win the most seats alone since yesterday morning.

“While Labour completely dominates the betting in terms of money, in the last 24 hours we actually took more bets on a no overall majority outcome, and the Conservatives to win most seats, suggesting that while Labour are at such short odds, punters are still speculative about the outcome.”

Despite the early Betfair election betting indicating Labour could win a majority vote, there is still over a month until the election and plenty of time for the tide to change.

Olly Taliku
Olly Taliku
Olly Taliku

Olly Taliku has worked with highly respected sports and gambling websites where he has produced hundreds of articles, as well as being published with Burton Albion and Chesterfield FC. At Burton Olly worked closely alongside the women's team, producing mainly matchday content including reports and interviews, while at Chesterfield he worked in a similar role but with the academy side, as well as some first team content. He also has experience as an accredited Premier League and EFL writer for Prost International where he worked during the 2021/22 season to produce matchday content as an on location reporter. Olly specialises in football as well as long form SEO content plus news, tips and betting but also produces content on basketball, baseball and American football.

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