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Jeremy Corbyn: Labour leadership win is a 'done deal' says bookmaker

Paddy Power says Corbyn win is a 'done deal' as it begins to pay out. Credit: PA

Jeremy Corbyn's victory in the Labour leadership race is a "done deal" according to one bookmaker which has already started paying out on bets.

Paddy Power said the veteran left-winger is now certain to win and it is paying out £100,000 in the "biggest upset in political betting history".

Mr Corbyn began the race as a 100/1 rank outsider but over the summer has stormed to the front of the race, seeing his odds tumble to 2/9 and attracting 80% of bets in the last two weeks.

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.

– Spokesman for Paddy Power

Former Labour prime ministers Tony Blair and Gordon Brown have warned of the dangers of electing Mr Corbyn, but the polls continue to show him rise in popularity.

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