Bookmakers are now sharing the odds of when Jeremy Corbyn is expected to step down as Labour leader following the loss of over 45 seats in the 2019 General Election.
Betfair Exchange is giving 4/7 odds that Jeremy Corbyn will step down in December, 11/5 in Jan-March 17/2 by April – June and 12/1 that he’ll stay in place until July.
They are also taking bets on who will become the next Labour leader.
Betfair Exchange spokesperson, Sam Rosbottom said that if the result was “anything to go by then it is set to be an incredibly disappointing night for the Labour Party and Jeremy Corbyn, who is now odds-on at 4/7 to step down as leader before the end of the month.”
“The early front runner to take over from Corbyn is Keir Starmer at 13/8, while Rebecca Long-Bailey is 5/1 and Angela Rayner is 8/1 to become the next leader of the Labour party.”
“After a disastrous night for Jeremy Corbyn and an equally disappointing night for the leader of the Lib Dems, Jo Swinson, who lost her seat, punters are already clear with who they think will step up as leaders.
“Corbyn has already explained that he won’t be leading the Labour party at the next election, and overnight Kier Starmer shot into the 13/8 odds-on favourite to become their new leader.
“One of the big casualties of the evening was Jo Swinson, the Lib Dem leader, who lost her seat in East Dunbartonshire. The early favourite to take over from her as leader is Ed Davey at odds of 8/13, while Layla Moran is closely behind him in the betting at 8/11.
“Now that the Prime Minister has a majority, focus will turn on how and when he will ‘Get Brexit Done’, with punters heavily backing a Meaningful Vote to pass in 2019 overnight into 2/5, but now those odds have drifted out to 6/4, suggesting bettors now aren’t as confident that Johnson will get his deal passed by the end of the year.”
Who won the election?
Overall, at the time of publication, the Conservatives, led by Boris Johnson won the most seats, meaning that Boris Johnson will become the UK’s next Prime Minister. They have won a majority with 364 seats. The Labour party has 203 seats, losing 59 seats.
In Scotland, the SNP added another 13 seats meaning that it now has 48 MPs in Parliament.
Liberal Democrats failed to make any headway, losing one seat and now has just 11 MPs sitting in the House of Commons.