A bet on a potential Overall Majority at the general election is one of the odder sounding bets involved with general election betting.
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What Is An Overall Majority Bet?
There are 650 seats up for grabs in a UK General Election. To have an overall majority you will need to win more than half of the 650 seats, then you will have an overall majority. So a bet on an overall majority, is effectively a bet on a political party to win 326 seats or more.
So for example, if you placed a bet on the Conservative Party to win an overall majority, and they got 333 Seats, you would win, as it is more than half the available seats.
While, if you place a bet on the Conservatives to win an overall majority, and they got 302 Seats, your bet would lose, as they would have less than half the seats (although they would probably have won the Most Seats Bet).
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Due to the political landscape in the UK, there is only really three possible outcomes for the Overall Majority bet. They are a Conservative Overall Majority, a Labour Overall Majority, or No Overall Majority (also known as a Hung Parliament).
For the Conservatives or Labour to win an overall majority bet, they would have to win 326 seats or more. If no party wins 326 seats or more, then No Overall Majority is the winner of the bet.
In political terms, if there is no overall majority, it is known as a Hung Parliament, which basically means there is no outright winner in a general election. In this event, either a coalition could be formed (like in 2010), or a minority government could be formed, or a second general election could be called.