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Labour leadership race: Corbyn win is 'done deal' predicts Paddy Power, as it pays out on bets Labour leadership race: Corbyn win is 'done deal' predicts Paddy Power, as it pays out on bets
(about 1 hour later)
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. Jeremy Corbyn’s victory in the Labour race can already be considered a “done deal” almost a month before the winner is announced – at least according to a bookmaker who has 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”. Describing the MP for Islington North’s success in the campaign as the “biggest upset in political betting history”, Paddy Power is so certain that Corbyn will win that it is paying out £100,000, even though polling closes on 10 September.
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. Corbyn’s changing odds with the bookmakers reflect the unprecedented growth in his popularity over the summer, as he started the race with 100/1, but is now ranked at 2/9, after attracting 80 per cent of bets in the last two weeks.  
Former Labour prime ministers Tony Blair and Gordon Brown have joined other party grandees to warn of the dangers of electing Mr Corbyn. A spokesman for the bookmaker told the Press Association: “In our eyes it is a done deal.
But Paddy Power are now paying out on bets made on Mr Corbyn succeeding Ed Miliband and beating early favourite Andy Burnham and frontbench rivals Yvette Cooper and Liz Kendall. The payments came as Corbyn warned senior party figures not to underestimate the "huge levels of public support" his campaign has received.
A spokesman for the bookmaker said: “In our eyes it is a done deal. Addressing supporters in central London, Corby rejected claims from his rival Andy Burnham that he did not want to become Prime Minster, and said his policies would win back voters who have turned to the Conservatives and Ukip.
“Storming Corbyn has notched up the W. We are paying out six figures. “Why would I be here, why would our campaign be here, if we didn't want to win this campaign, in order to make the Labour Party a more effective campaigning organisation, in order that we can win the 2020 election?
“It is the biggest upset in political betting history.” "I heard Andy's comments. I didn't spill my coffee at the time. I smiled," he said.
PA Meanwhile, his main rivals Burnham and Yvette Cooper, grappled over who is best placed to stop Corbyn’s ascent to leadership, with both camps demanding the other clear the way.
The left-winger went on to mock apparent plots for other candidates to withdraw in order to consolidate support against him.
"I do not think anyone should pull out. They have been nominated, they are valid candidates. We have some more hustings coming up, we will continue the debate.
“If others want to debate arcane procedures that's up to them," he said.
Additional reporting by PA