NEXT LABOUR LEADER ODDS STILL FAVOURING DAVID MILIBAND FOR NOW

The search for the Next Labour Party Leader in the UK continues and, while David Miliband continues to cling to his position as the outright favourite for the nomination, we have seen a recent price drop by Ed Miliband that appears to be connected to the recent survey that stated many party insiders are favouring the less prominent Miliband for the coveted position.
Popular Irish bookmaker Paddy Power is pricing David Miliband’s odds to be next Labour Leader at a slim 4/11 price tag and he’s also listed at 1.52 on Betfair at the moment in a market with plenty of volume.
Ed Miliband’s odds to be named Next Labour Leader are a solid 7/4 with Paddy Power and he hovers around 2.92 on the open exchange at Betfair.
These are virtually the only two contenders in the running right now with Betfair pricing the next best option, Ed Balls, at a massive 140.0 price.
The big question seems to be whether the Labour forces want to nominate a party insider with plenty of cabinet experience or somebody who is considered more of an outsider. It is clear that executive experience isn’t necessary to become PM judging by Tony Blair and David Cameron. This definitely gives the Ed Miliband camp a bit more credibility.
The especially interesting aspect of this, odds-wise, is that the bookmakers are favouring a Labour majority for the next election with a 6/4 price from Paddy Power. A Conservative Majority is trading at 15/8 while a Labour/Lib Dem coalition is priced at 4/1. A Conservative/Liberal Democrat Coalition is at 9/2 while a Labour minority is at 6/1 and a Conservative minority trades at 7/1.
David Miliband has looked to have this thing locked up for quite some time and the recent surge by Ed Miliband has shown that this one is far from over. Sometimes these things are won by who has the momentum- not by who’s been the favourite the longest. The question appears to be whether the Labour party wants to go with the politician’s choice of candidate or the people’s choice of candidate.