Paddy Power have been forced to suspend betting on a general election to be called, following the news that Prime Minister Boris Johnson has called a cabinet meeting for later today.
The odds of the election to be announced fell from 2/5 this morning, into 1/5 and finally 1/10 in the last hour – before we stopped taking any further bets on it.
The Tories are currently the odds-on 3/10 favourites to win the election, with Labour rated 7/2 and the Liberal Democrats 16/1.
A no-deal Brexit is now more likely too – as the odds fall from 11/8 this morning to 11/10 now.
Spokesman Paddy Power said: “Boris Johnson’s cabinet meeting announcement has sent the betting on a general election to take place this year into overdrive. And, as a result, we’ve been forced to stop taking any further bets on it.
“The news also makes the chances of Britain leaving without a deal more likely than ever.”
GENERAL ELECTION ODDS:
3/10 Conservatives
7/2 Labour
16/1 Liberal Democrats
16/1 Brexit Party
500/1 UKIP
NO DEAL BREXIT:
4/6 To leave with a deal
11/10 To leave without a deal