General Election 2017: Big money is being bet on whether the Tories win an overall majority

 
Helen Cahill
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A betting frenzy over what will happen to the Tories has begun (Source: Getty)

As the polls open, betters are putting big money on whether the Tories will bring home an overall majority.

The Tories are now trading with a 95 per cent chance of clinching the most seats overnight on the betting exchange Betfair, and punters are giving the party an 87 per cent chance of a majority.

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And the favourite outcome for the majority at the moment is a majority of 75-99 seats.

Since the polls opened, an impressive £2m has been placed on who will win the most seats tonight, and £1.9m of that total has been put on the Tory majority.

And, on which leader will win an overall majority, a total £1.1m has been bet, with £1m on the Tories.

Throughout the election, Betfair has had £21m worth of bets made on which party will win the most seats.

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Betfair spokesperson, Naomi Totten, said: "With the polls now open, both parties can do nothing but sit back and hope their voters turn out for them.

"Labour's better-than-expected campaign seemingly bolstered their support in the market in the past few weeks with Corbyn hitting 5/1 for next PM on Saturday, but all of the money coming in today is for Tories who are 1/20 to win most seats and 2/13 for a majority."

There's also plenty of activity on who will be winning in marginal seats.

The Conservatives' Zac Goldsmith has been given a 68 per cent chance of winning back his seat in Richmond Park, where he is up against the Lib Dems' Sarah Olney.

Meanwhile, Betfair's customers reckon the Lib Dems' Vince Cable has a 72 per cent chance of taking Twickenham back from the Tories.

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