Bookmakers have placed the spotlight on Labour Party leader Jeremy Corbyn, and how he handles the departure of breakaway rebels forming a new Independent Party within UK politics.
Branded the ‘Gang of Seven’, the rebel cabal has been deemed as the biggest reprimand of Corbyn’s party leadership, and his handling of Labour’s position on Brexit.
Since yesterday’s confirmation of the opposition party split, Westminster rumours have reached overdrive on which further Labour and potential Conservative MPs may choose to join the rebel faction.
Updating its UK political betting markets, Paddy Power has cut the price of Jeremy Corbyn being replaced as Labour Party leader before the end of the year from 3/1 to 5/4.
Furthermore, the bookmaker has priced at 6/1 that Corbyn will be replaced before the end of April – or 10/1 by the end of next month.
Revising its market, Paddy Power details that a UK breakaway party could prove fruitful for Corbyn menace, Chuka Umunna, as his odds of being named next prime minister have halved from 100/1 to 50/1 in the last few minutes.
Updating the media, Spokesman Paddy Power said: “It looks like curtains for Corbyn this morning, as Labour announces a bitter split to rival Oasis’ in 2009.
“Our punters are confident he will be replaced as Labour leader this year, potentially as soon as next month, after a flood of bets since the breakup was announced.”