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.