Animated: Jeremy Corbyn speaks during the Labour leadership debate in Cardiff, August 4, 2016.

Animated: Jeremy Corbyn speaks during the Labour leadership debate in Cardiff, August 4, 2016.

It seems bookmakers are more reliable yardsticks of public feeling than the opinion poll companies these days, considering pollsters’ recent woeful failures to predict election results.

So Jeremy Corbyn’s re-election campaign can take heart from William Hill’s decision to shorten the odds for a Corbyn victory. It means punters think he is more likely to win, following the first hustings yesterday (August 4).

Smith supporters were quick to take to the social media and claim victory, but such comments were met with derision. For an example, see here.

But there’s still a long way to go. Voting slips won’t be posted until August 22 and the result will not be revealed until more than a month after that (September 24).

Bookmaker William Hill [has] shortened its odds for a Corbyn victory from 1/8 (88% chance of victory) to 1/10 (90%), with Smith a 6/1 (14%) underdog.

“Corbyn has emerged from the opening round with a points lead over his opponent, according to political punters, and seems to be heading for another knockout victory,” said Graham Sharpe, a spokesman for William Hill.

Source: Labour leadership: Jeremy Corbyn’s odds cut after first hustings with Owen Smith

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