Labour’s Odds of Winning General Election “Shortening by the Hour”

Theresa May’s U-turn on capping the so-called “dementia tax”, just four days after releasing the plan in the Conservative election manifesto, has caused the Labour party’s odds of winning the snap election to rapidly shorten.

The Conservative party’s manifesto threw out plans to place a cap on lifetime care costs, but in what has been described as a desperate attempt to get her election campaign back on track, the Prime Minister has pledged to introduce a cap on lifetime care costs.

Weekend polling shows that May’s manifesto release on Thursday has allowed Jermey Corbyn’s Labour party to narrow the gap on the Conservative party.

Today’s u-turn might ease a few worries inside the Tory party but it will portrays uncertainty and an untrustworthiness among voters and punters alike according to analysis by Oddschecker.

Twelve different bookmakers have cut the odds on the Labour party winning the most seats at the upcoming General Election.

Just ten days ago, Corbyn’s party was a massive 26/1 to win the most seats while on Thursday, following the Conservative party’s release of their manifesto, the Labour party were cut to 12/1 favourites.

After today’s u-turn Labour's odds have shortened even further to 7/1 (one bookmaker remains at 12/1).

The Conservative's slide in fortunes has troubled the British Pound at the start of the new week with the UK currency being the worst-performing major currency as markets need to see the Conservatives take a majority of around 130 seats to justify expectations for a smooth Brexit process.

Since 10am this morning, Oddschecker have reported seeing almost three times the amount of bets being placed are on Labour to win the upcoming election compared to the Conservatives.

After the announcement was made around midday regarding the U-turn on “dementia tax”, there has been several four-figured bets on the Labour party at odds ranging from 15/1 to 12/1.

“Theresa May is doing a fine job of evening out the odds for the upcoming election. Even though she’s still odds-on to win, May was 1/100 just two weeks ago. Jeremey Corbyn’s odds to become Prime Minister have been cut to as short as 4/1 with one bookmaker, however others are remaining firm at 8/1. Before today we weren’t seeing many serious bets for the Labour party, however the latest headlines have led many to believe Corbyn coming into power could become a reality,” says Oddschecker spokesman, Sam Eaton.