Uk Election: Odds are in Decline for Conservatives

After exit polls somewhat shocked the market and pointing to YouGov model prediction just weeks ago that forecasted a hung parliament weeks ago, betting odds are in decline, except for the odds for most seats.

The betting market is pricing 93 percent probability that the Conservative will win most of the seats in 650 members’ parliament.

The market is pricing less than 62 percent probability that Theresa may be the next Prime Minister. The odds for Jeremy Corbyn has moved higher from 20 percent to 33 percent.

The market is also pricing 66 percent probability that the Conservatives will be able to hold on to their majority in the election. The odds of a Labour Party majority is currently at less than 7 percent.

The odds of a hung parliament has moved up from less than 20 percent before the election to 33 percent as of now.

Foreign Secretary Boris Johnson is the favorite with 30 percent odds to become the next Conservative Party leader if Theresa May is replaced.

Results so far:
So far, the Labour Party has won 10 seats, while the Conservatives have secured wins in five. Still, a very long way to reach the magic figure (326).

News are provided by InstaForex