The United Kingdom Independence Party (UKIP) are being heavily backed in the Newark By Election market according to Ladbrokes. Whilst the Tories remain the odds-on favourites at 2/7 the bookies can report heavy traffic for UKIP since their success at the European Elections, which has seen Nigel Farage's party shorten up to 5/2 to cause another upset.
The early support for Labour has since evaporated and has seen them drift out to 16/1, leaving it a clear two-horse race. Jessica Bridge of Ladbrokes said: "Political punters are trying to cash in on UKIP for the second time in as many weeks. They're being backed like they're going out of fashion, something David Cameron can only wish for."
Ladbrokes latest betting: Newark By Election
United Kingdom Independence Party (UKIP) 5/2
Liberal Democrats 200/1
Paul Baggaley 200/1
Andy Hayes 200/1