Election Betting Very Close As Bookmakers Prepare For Hectic Night

The odds of a hung parliament have drifted marginally in the last couple of hours but this still remains the likely outcome of this ground breaking General Election .

The best odds on a hung parliament with 3 hours to go before the polls close are currently showing at 4/6 with Ladbrokes with the chances of a conservative majority showing at 11/8 with Irish bookmaker Paddy Power .

The likelihood therefore is that there will be no overall majority but until the polls close and the first results start to be officially announced this particular election is amongst the tightest in recent history .

As bookmakers , journalists and the general public prepare to stay up some or all of the night , bookmakers are predicting that the 2010 election will be the biggest political betting event ever .

Many pundits are predicitng a high turnout for this election as interest has been revived by the percieved wish for change amongst the electorate after the expenses scandal and the extra dimension of this election being seen as a three party contest in many ways . Victor Chandler are however still quoting odds of 2/1 that the turnout is 70-75% .

When it comes to counting the votes quickest it is clear that the north-east is the place to be . The first 3 constituencies in the betting with Paddy Power are all in the Sunderland area with the strong favourite being Houghton and Sunderland South at 1/4 , expected shortly after 11pm . If Labour were to lose this very safe seat the country would be very blue tomorrow !