Labour Election Odds On Drift

As the Labour leadership row intensifies, punters have been betting that its effect will be to make the next General Election so close that a hung parliament will result, and William Hill have cut the odds about that scenario unfolding from 5/1 to 7/4.

However, William Hill have also made the Conservatives 4/7 favourites to emerge as the largest single Party after the next Election, with Labour now 5/4 shots to do likewise despite their three consecutive victories.

"All the serious Election betting money during 2006 has been for the Tories to out-number Labour next time round" said William Hill's spokesman Graham Sharpe.

Meanwhile, Gordon Brown is 2/9 favourites with William Hill to succeed Tony Blair as the next elected Labour leader, with Alan Johnson 5/1 second favourite; John Reid 8/1 third favourite and David Miliband 12/1, while the outspoken Charles Clarke is a 66/1 outsider with the only thus-far declared candidate, John McDonnell a dismissive 100/1.

"The leadership race is at the same stage as when the runners for the Grand National are circling around at the start, jostling for position before the starter raises his flag and they come under orders" said William Hill's spokesman Graham Sharpe. "Once everyone can identify the definite starters from the non-runners the big money will be gambled, but at the moment people don't want to bet on Gordon Brown but won't bet against him unless noone takes the plunge and takes him on."

William Hill are offering odds of 7/2 about Tony Blair publicly supporting and endorsing Gordon Brown as his preferred successor before the Leadership Election voting process gets underway.

"The bet will be won if Mr Blair nominates Gordon Brown in public as his preferred contender for the Leadership Election" said William Hill's spokesman Graham Sharpe. "We don't anticipate having to pay out!"

William Hill are also offering 5/4 that Tony Blair will announce the date on which he will step down, between January 1 and May 2, 2007 - the day before the local elections take place; 5/2 that he will do it between May 3 - September 7, 2007 - the latter being the date on which the maximum twelve month timeframe he announced on Thursday; 11/4 on or before September 28, 2006 - the last day of the Labour Party Conference; 13/2 September 29 - December 31, 2006; and 16/1 September 8, 2007 onwards.

William Hill are also offering odds on when Tony Blair will officially cease to be Prime Minister and have taken a bet of £1800 at 7/4 that it will be on or before December 31, 2006, but make any time in 2007 their 2/5 favourite with 2008 or later quoted at 20/1.