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ONE of Britain’s biggest bookmakers revealed yesterday that it will lose upwards of £100,000 if Jeremy Corbyn wins the Labour leadership.
Labrokes is braced for huge losses if surging support for the left candidate sees him complete a turnaround from 150/1 outsider to winner.
A spokesman told the Star: “If he was to actually become the next Labour leader, he’s the one that would actually lose us the most money by quite some way.
“It would probably cost us £100,000, if not maybe more.”
Yesterday, Ladbrokes became the fourth bookie to slash its odds on Mr Corbyn being elected Labour leader on September 12.
The Islington North MP is now a 7/1 shot — leaving his chances of victory the same as those of Blairite candidate Liz Kendall.
Andy Burnham remains the 8/11 favourite, while Yvette Cooper is a close second at 5/2.
The latest cut to Mr Corbyn’s odds reflects him being “the candidate with the real momentum,” according to the Ladbrokes spokesman.
But he added: “Exactly the opposite of that can be said about Liz Kendall. She was actually at one point looking like she might be a clear second favourite. She’s now really, really unpopular and, as such, we’ve had to keep offering bigger odds to tempt people into coming back.”
Mr Corbyn is also leading when it comes to nominations from constituency Labour parties, with 36 compared to Ms Kendall’s mere five.
And among the constituency parties backing Mr Corbyn is Ashfield, represented by Gloria De Piero, a high-profile supporter of Ms Kendall.
He is also ahead of Yvette Cooper on 28 and only 10 behind Andy Burnham on 46.
