Paddy Power set to pay out £100,000 on bets as Corbyn entered race at 100/1
Bookmakers Paddy Power is already paying out winnings to people who bet on Jeremy Corbyn to win the Labour leadership race, saying his victory is a “done deal”.
Corbyn scraped into the race at the last minute and his outsider status saw odds of 100/1 when he initially made it onto the ballot.
Paddy Power has described the turnaround of events as “the biggest upset in political betting history”.
Paddy Power said: “In our eyes it is a done deal. “Storming Corbyn has notched up the W. We are paying out six figures. “It is the biggest upset in political betting history.”