Miliband Now Favorite to Be Prime Minister, Paddy Power Says

Labour Leader Ed Miliband
Rival betting companies Betfair Group Plc and Ladbrokes Plc last week made Ed Miliband favorite to become prime minister after next month’s U.K. election, odds indicating that a Labour minority government viewed as the most likely single outcome of the May 7 election. Photographer: Paul Thomas/Bloomberg

Ed Miliband is the most likely candidate to become prime minister after next month’s U.K. election, according to Paddy Power Plc, Ireland’s largest bookmaker, which today made the Labour leader favorite for the first time since October.

The odds on a Miliband premiership are 5/6, meaning a successful 6 euro bet on Miliband wins 5 euros, Paddy Power said in Dublin on Monday. The bookmaker cut Miliband’s odds from 5/4. A successful 10 euro bet on David Cameron would win 11 euros at Paddy Power.

Rival betting companies Betfair Group Plc and Ladbrokes Plc last week made Miliband favorite, odds indicating that a Labour minority government viewed as the most likely single outcome of the May 7 election.

Most polls published over the last week put the two biggest parties almost neck and neck. An ICM poll published on Monday published by the Guardian found the Conservatives in the lead with the support of 34 percent of voters and Labour at 32 percent.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE