Betfair – Le Pen’s price proves to be an ‘attractive proposition’ as France 2017 hits £22 million mark

Updating the media, on its ‘France 2017’ general election market, Betfair Politics maintains that far-right candidate and former Front National leader Marie Le Pen is still an ‘attractive proposition’ for political punters priced at 9/1.

As France heads to the polls this Sunday 7 May, Betfair informs that its ‘France 2017’ market has hit the £22 million wagering mark breaking all the operator’s records for a European political market. Additionally, Betfair Politics informs that a further £8 million has been traded since the first round of voting (23 April).

En Marche leader Emmanuel Macron odds plummeted to a low of 1/8 once votes were counted, the former banker is now trading at 1/9 (90% chance) of winning the second round.

However, entering the last week of campaigning Macron’s polls have varied wildly for the centrist candidate, with French news sources detailing that polls range between a 4-20 point lead over Le Pen.

Furthermore, a number of political commentators have pointed to the marked similarities between Le Pen’s campaign and Donald Trump’s Shock 2016 US Presidential victory. The deep divide between French voters in Cities supporting Macron vs Le Pen’s popularity in provincial and rural areas has been a distinct narrative of France 2017.

Naomi Totten, Betfair

Betfair Spokesperson, Naomi Totten said: “The Next French President market has now surpassed Scottish Referendum betting from 2015 which traded £21m and is well-placed to become the third biggest political market of all time, behind only the juggernaut heats of Brexit and US election.

“Macron is the clear favourite to win and has continued to shorten in price in recent days, with Le Pen drifting to just a 10% chance of becoming the next president. The far-right candidate continues to attract support however and accounts for 70% of all bets placed in the past week but the serious punters are backing Macron with over 85% of money backing the favourite to go the distance, with bets as big as £85k on the independent candidate.”