Ladbrokes stops taking election bets

Ladbrokes has stopped taking bets on Labour winning the most seats in the election, but plenty of other bookmakers confirmed …

Ladbrokes has stopped taking bets on Labour winning the most seats in the election, but plenty of other bookmakers confirmed yesterday that they were willing to continue accepting such wagers.

Even before a single vote has been counted, Ladbrokes has taken the unprecedented step of paying out on all bets on Labour being the largest party.

The company marked the decision - which could cost them tens of thousands of pounds if there is an upset on Thursday - with a "one-horse race" on Westminster Green, using a real horse called New Labour.

But rival William Hill said it had no plans to follow suit and is offering punters odds of 1/100 (£100 staked to win £1) on Labour being the largest party.

READ MORE

William Hill is quoting 16/1 on the Tories winning the most seats and 300/1 on the Liberal Democrats doing so.

Hill's odds on Labour winning an overall majority are better than those for them winning the most seats, but at 1/50 you would still need to put down a hefty stake to see a decent return.