Labour gains ground on Tories in Coral Election Forecast

Coral today released its latest General Election Betting Forecast based on the current betting markets which shows Labour making ground on the Tories at the expense of the SNP.

The Coral forecast is a mathematical model that uses the odds on constituencies to calculate the overall number of seats that each party is most likely to win.

In the latest forecast, published today, the number of seats that Labour is expected to win has increased by 12 since last week to 276 (from 264) mainly at the expense of the SNP in Scotland who are down 9 in the Coral forecast to 36 (from 45).

The Conservatives are still ahead in the Coral Election Forecast down just 1 to a total of 284, 8 clear of Labour.

The narrowing of the gap between Labour and the Conservatives in the Coral Election Forecast is replicated in the bookmaker’s main General Election betting markets. It is almost neck and neck between Ed Miliband and David Cameron in terms of the battle to be Prime Minister on the 1^st June 2015 with Cameron just favourite at 4/5 ahead of Miliband on Evens.

The Tories are odds-on to win the most seats at 8/15 with Labour 6/4, but the prospect of a Hung Parliament is now even more likely than ever according to the Coral odds which are now as short as 1/8 from 1/6 last week.

“This is turning into the biggest and best political betting event ever with bets now streaming in for a range of markets and outcomes,” said Simon Clare, Coral Spokesman.

“With the Election campaign well and truly underway we are seeing plenty of four figure bets every day, plenty for the Tories winning most seats, some for Miliband to end up Prime Minister, but the majority playing it safe and going for a hung parliament,” added Clare.

“The volatility of the opinion polls and the wide variety of predicted outcomes being expressed by experts in the media are creating the perfect conditions for betting as nobody seems to be sure what is going to happen come 7^th May”, concluded Clare.

** Coral Election Betting Forecast (14^th April)

284 Conservative

276 Labour

36 SNP

26 Lib Dem

6 UKIP

2 Green

2 Plaid Cymru

18 Other

** Coral Election Betting

*Prime Minister on June 1st

4-5 David Cameron, Evens Ed Miliband, 22-1 Any other person

*To win most seats

8-15 Conservatives, 6-4 Labour, 100-1 UKIP, 500-1 Liberal Democrats, 1000-1 Green Party

*To win an overall majority

1-8 No party, 9-2 Conservatives, 16-1 Labour, 125-1 UKIP, 1000-1 Liberal Democrats

*Make up of next government

2-1 Coalition involving Liberal Democrats, 13-2 Coalition involving the SNP, 14-1 Coalition involving UKIP, 16-1 Coalition involving the Greens

*Two elections in 2015

11-4 Yes, 1-4 No