General Election 2010: Bookmakers expect record £25m of election bets

William Hill spokesman Graham Sharpe said the bookie's biggest election bet so far was a £9,000 wager, but added: "Like in football, the high-rollers don't usually come in until a minute before kick-off. If you're betting in six figures, you want to make sure no-one says anything really stupid on a televised debate." Ciaran O'Brien, Ladbrokes' spokesman, said "the betting is as volatile as the opinion polls" boosted this time by being "a genuine contest" There could yet be a re-run too. Hills offers 3/1 on two elections this year – though you can get twice those odds on Betfair.

 

How betting on a Conservative majority (blue), hung parliament (yellow) or Labour majority (red) has changed in the past three years

As the tapes rose on Tuesday on the race to Number 10, bookies unveiled a wide field of wagers ranging from most seats and winners of all 649 constituencies to the next chancellor and the date for Gordon Brown's resignation.

Much betting interest so far has focused on a hung Parliament – though the odds have lengthened in recent days on both betting exchange Betfair and with traditional bookies, such as William Hill and Ladbrokes. Betfair has no overall majority at 2-1 and Ladbrokes at 15/8, though Hills is only 6/4.

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