Odds are shortening on a victory for Theresa May's Conservatives in tomorrow's General Election

Mark Sands
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A voter places her voting paper in the b
The UK will head to the polls on 8 June. (Source: Getty)

Betting money is drifting back towards Theresa May's Conservatives with just hours to go before polls open, bookmakers have revealed.

Final pre-election polls have suggested the party is on track to boost its majority, albeit by less than early estimates had thought possible.

And Betfair has revealed that punters have responded by moving their money into the blue corner on its betting exchanges.

The firm has seen almost £40m bet across all election exchange markets and is expecting to take a further £60m before a result is declared on Friday.

The Conservatives are strong favourites to win most seats at 1/11 to win most seats, compared to 10/1 for Labour .

The Tories are also 2/9 to win an overall majority.

Betfair Spokesperson, Katie Baylis said: “We have seen a slight move towards the Tories on our main markets in the last 24 hours, with their odds now shortening slightly"

Read More: Spreadbetter predicts Tory majority with Labour surge 'too little too late

Odds from Ladbrokes put Labour at 12/1 for an overall majority, while the Conservatives are priced at 1/4.

Labour leader Jeremy Corbyn has shorter odds of becoming Prime Minister at 7/2, partly because of the chances of the party forming ruling coalion.

But despite his status as the outsider, Ladbrokes said that 70 per cent of all bets on the next Prime Minister have been placed on the Labour leader.

Read More: General Election 2017: Everything you need to know about voting tomorrow

Separately, spreadbetters Sporting Index are predicting the first results to come in as early as 10.50pm, with declarations traditionally beginning in the North East.

Sunderland South has returned the first MP at the five most recent general elections, with the quickest ever ballot count coming in at 10.48pm in 2015.

Sporting Index's political spokesman Ed Fulton said: “Sunderland’s constituencies have always led the way for first past the post records in recent general elections, and it will take a quick turnaround in any area to beat the record of 10.48pm held by Sunderland South.

“That said, Washington & Sunderland West and Sunderland Central could give their neighbours a close run, and all eyes will be on when the first results are announced tomorrow evening.”

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