Odds of UK Election on July 4 Being Cancelled Are Pretty Good According to Betting Market

They're tired of the Tories in the United Kingdom apparently.

The United Kingdom’s first election in five years will take place on July 4 and the Conservative Party, based on current betting patterns and polls, does not appear to stand a chance.

BetOnline continues to list Prime Minister Rishi Sunak as the next world leader to exit office.  It only gets worse.  They have Labour winning at -900 odds.  Can't pull the trigger on that price?  BetOnline is offering a host of winning margin bets at much better prices.

Many pundits are convinced that Sunak just wants to get the obvious over with.  He set July 4th as the date for the election, months ahead of when it was expected. He had until December to call an election that could have happened as late as Jan. 28, 2025.

The center-right Conservatives took power during the depths of the global financial crisis and have won two more elections since then. But those 14 years have been filled with challenges and controversies, making the Tories, as they are commonly known, easy targets for critics on the left and right.

On Thursday, a new betting market opened asking if the July election will be canceled and some 45 percent believe it will be.  Those odds are equivalent to +122.

Polymarket opened that market at 2:30 pm ET.  The gambling prediction platform does not take bets from those in the U.S. but is available to UK gamblers.