London's Mayoral politics are becoming intense as political bettors look ahead after the 2024 election. In 2025,
London Mayor betting odds
suggest incumbent Sadiq Khan could secure an unprecedented fourth term, thanks to his current political standing.
In this guide, I break down the current political landscape, the confirmed and potential candidates, and what the betting markets indicate regarding possible election outcomes. If you're interested in wagering on City Hall's next occupant, keep reading for insights and tips. Keep in mind that the odds will change as Election Day draws nearer.
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The 2024 Mayoral Election saw Labour's Sadiq Khan win a third term as Mayor of London. Khan secured about 44% of the vote under the new first-past-the-post system (which replaced the old supplementary vote). His Conservative opponent, Susan Hall, followed at 32.7%.
Despite pre-election talk of a tighter race, Khan's victory was comfortable—leading by over 275,000 votes. Turnout was around 40.5%, slightly lower than in 2021, which suggests many Londoners remained disengaged even as the stakes rose.
Voter Sentiment And Key Issues
The campaign was defined by sharp divides in voter sentiment between inner and outer London. An April 2024 YouGov poll highlighted how Outer London voters were far more receptive to the Conservative message, largely due to the controversial Ultra Low Emission Zone (ULEZ) expansion.
In that poll, Khan led by only 5 points in outer boroughs (38% vs 33%), whereas in Inner London, he dominated 64% to 14%.
Since the 2024 election, London's political context has notably shifted. A Labour victory in the late 2024 general election brought a change of government nationally. With Labour now in power at Westminster, Khan's London agenda may benefit from greater support (or at least less open conflict) from the central government.
Issues like funding for transport and policing, which often pitted City Hall against Downing Street, could see a new alignment. That said, mid-term voter fatigue with the governing party might become a factor by the next Mayoral race. Londoners unhappy with national Labour policies may seek to "send a message" in the Mayoral election, giving the Conservatives a potential opening.
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Quick Facts About The Candidates
With the next Mayoral contest on the horizon, attention turns to who will actually be on the ballot. Formally, the next Mayor of London election is scheduled for May 2028 (four years after 2024), but most bookies already have odds for most candidates in 2025. No candidates have been officially confirmed this far out, but we can identify the likely contenders:
Sadiq Khan (Labour, Incumbent)
As the sitting Mayor, Khan is the presumptive Labour candidate unless he decides not to run again. His strong name recognition and established voter base make him an early favourite in the Mayor of London betting markets. During my research, I realised that most bookmakers have installed Khan as the frontrunner for the next election following his 2024 win. However, after three terms in office, Khan carries the weight of any voter desire for change. Bettors will be watching for clues about Khan's intentions; any hint that he might step aside could shift the odds.
Conservative Challengers
The Conservative Party will field a candidate in an attempt to reclaim City Hall (which they last held under Boris Johnson from 2008 to 2016). After Susan Hall's defeat, the Tories are likely to seek a higher profile figure. Several names are being floated. James Cleverly, a senior Tory MP and former Foreign Secretary, is one prominent possibility frequently mentioned (and appears near the top of early odds).
Similarly, I found that Penny Mordaunt, another well-known Conservative MP, has been listed by many bookies. Although her base is outside of London, a bold bid for the Capital is not impossible.
Former Cabinet Minister Sajid Javid, who stepped back from parliamentary politics, is another name in the mix. As a London-born ex-chancellor with a more moderate image, Javid could be positioned as a "fresh start" candidate for the city. And you should not count out Boris Johnson entirely. This former Mayor and Prime Minister looms in the background at 16/1 odds (as of early 2025) and could make a comeback bid, according to some bookies' lists.
Reform UK And Nigel Farage
A new wildcard in the Mayoral mix is the right-wing Reform UK party (the rebranded Brexit Party). Nigel Farage, now leader of Reform UK, did not contest the 2024 Mayoral race but has been tipped as a potential contender next time. Bookmakers currently price Farage around 8/1 – a long shot, but not the longest.
Other Parties And Independents
Something else to keep in mind is that London's smaller parties will also field candidates. But historically, none has come close to winning. The Liberal Democrats and Greens typically treat the Mayoral race as a platform to raise issues, rather than realistically aiming for victory (the highest share either has achieved is under 10%).
We can expect the Greens to run an environmental campaigner (2024's candidate was Zoë Garbett) and the Lib Dems to promote issues like housing and civil liberties (2024's candidate was Rob Blackie). Judging from the current London Mayor election betting odds, any Liberal Democrat or Green candidate is an extreme outsider, priced at 50/1 or longer.
Latest Betting Odds For The Mayor Of London - Top Candidates
Political punters are already placing early bets on the next Mayor of London, even though the election itself won't occur until 2028. Below is a look at the top prospective candidates and their current odds to win at the
top UK online bookmakers. This is as of the first quarter of 2025.
Candidate
Political Party
Current Odds
Sadiq Khan (Incumbent)
Labour
5/4
Zia Yusuf
Reform UK (Chairman)
6/1
James Cleverly
Conservative (MP)
9/1
Nigel Farage
Reform UK (Leader)
9/1
Dawn Butler
Labour (MP)
12/1
Penny Mordaunt
Conservative (MP)
12/1
Sajid Javid
Conservative (Former MP)
14/1
Boris Johnson
Conservative (Former Mayor)
16/1
As noted above, the current Mayor of London betting odds clearly put Sadiq Khan in pole position. At 5/4, Khan is almost an even-money bet. Behind Khan, it is noteworthy that Reform UK's figures are prominent. Zia Yusuf, at 6/1, is technically the second favourite in some books, an interesting situation given his low public profile.
Nigel Farage sits around 9/1; his odds shortened slightly after the 2024 elections. Market confidence is shaky for Farage, who is aware of his popularity with a segment of voters, but also cognisant of London's broader demographics that make him a long shot.
James Cleverly, at 9/1, is effectively tied with Farage in odds and is the leading Conservative in the betting. This shows that bettors expect the Tories to select a candidate of his stature or that Cleverly himself has a fair chance if he runs.
Other Conservative figures like Mordaunt and Javid have longer odds (in the low double-digits). This shows more uncertainty about their interest/viability. The presence of Boris Johnson at 16/1 highlights a bit of nostalgia in the betting market.
While most analysts doubt he would run for his old job, some bettors are willing to wager on this outside possibility. As the election draws closer, the campaigns launch and polls are conducted, next London Mayor betting odds will be updated to reflect new information.
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Strategic Insights For Betting On London Mayor Elections
Betting on the London Mayoral Election requires balancing long-term political trends with short-term developments. Here are several considerations if you are looking to wager on the outcome:
🗳️ Incumbency And Historical Trends
Incumbents have a strong track record in London Mayoral contests. Both of Khan's predecessors (Ken Livingstone & Boris Johnson) secured two terms, and Khan himself has now won three. When betting on the Mayor of London, keep in mind that London voters have historically given the benefit of the doubt to the incumbent—unless there is a massive wave of change.
📆 Timing And The Political Calendar
By 2028, Labour will have been in the national government for a few years. Mid-term elections often swing against the ruling party nationally, which could energise Conservative voters in London. You should keep an eye on
general election odds
and polls as a key indicator.
If Labour remains popular nationwide, Khan or any Labour candidate will benefit; if the Labour government hits turbulence during the late 2020s, the Conservatives might stand a better chance of winning.
👥 Candidate Selection And Party Dynamics
An important strategic factor is who the parties choose as candidates. The Conservative selection will be especially crucial. If the Conservatives nominate a moderate, well-known figure (like James Cleverly or another respected London-centric politician), they might attract some of the centrist voters who currently back Khan.
On the other hand, a more polarising candidate could struggle to broaden the base. The odds for any Conservative candidate will likely tighten (shorten) once that candidate is officially in place and begins campaigning. Similarly, for Labour, if Khan stands again, he will carry the advantages and burdens of incumbency.
📊 Public Opinion Polls And Betting Market Moves
As the election draws nearer, pay close attention to reliable polls on the Mayoral race. These polls will likely influence London's Mayoral election betting odds. For example, if a poll shows a hypothetical Conservative candidate within a short distance of Khan, you can expect the odds to tighten for that candidate and perhaps drift a bit for Khan (making Khan slightly less of a sure thing). On the other hand, continued large poll leads for Labour would reinforce Khan's favouritism.
Beyond opinion polls, watch the relevant betting markets for movement. A rise in bets on a candidate could foreshadow an announcement. For instance, a sudden shortening of the
Labour leader's betting
odds might mean rumours that Khan is not running. The bottom line: successful political betting often comes down to information.
🏙️ Local Issues And Debates
As a rule of thumb, do not ignore the importance of local London issues in shaping the race. City-specific matters, transport fares, housing developments, crime rates and environmental measures; all these will form the battleground of the campaign.
🌍 External Factors
Political betting is a form of
novelty betting, meaning it is influenced by unique factors. External events can and will impact the Mayor of London betting odds. One example is the possibility of an unforeseen independent candidate entering the race, perhaps a celebrity or a prominent non-partisan figure.
London has seen this before - businessman Rory Stewart ran as an independent in 2021 before withdrawing, and others like Siobhan Benita and Brian Rose have tried as well. If a serious independent or third-party candidate gains traction, it could siphon votes from one of the major parties—something you, as a bettor, must account for. In short, betting on London Mayor elections is not just about the individuals. Instead, it is about the context in which those individuals will compete.
Pros And Cons Of Betting On The London Mayoral Election
Betting on the London Mayoral race comes with its advantages and drawbacks. Here is a quick look at them:
Political Betting: Pros and Cons
A great way to gain political insights
Clear two party dynamics simplify the market.
Early odds are generous for longshots
Your stake is tied up until 2028
Bet On The London Mayor Race Today
Now that you understand the London Mayoral race and the political context since 2024, you should keep tabs on emerging candidates and new developments. Similarly, take heed of changes to the London Mayor betting odds and maintain a strategic mindset to place informed bets on this high-profile city election.
London's future leadership is a topic of keen interest, not just to residents, but to bettors who see an opportunity to put their political acumen to the test. As always, you need to do proper research, keep a very close eye on the betting markets, and always bet responsibly.
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Betting On Mayor Of London Elections FAQ
🗳️ Is Sadiq Khan Allowed To Run For Another Term?
London's Mayoral system imposes no term limits, so even after three terms, Khan is eligible to seek a fourth. As of now, Khan is indeed the clear favourite in betting markets.
🤔 Who Are The Main Challengers Expected To Take On Khan?
While no candidate is confirmed yet, names frequently mentioned include James Cleverly (a prominent Tory MP & former minister) and other senior Conservatives who have a London connection or public profile.
💰 How Do I Bet On The London Mayoral Election?
To place a bet, visit a reputable online bookmaker offering the best odds on the London Mayoral candidates for City Hall. Always check the rules and terms of the wagers before placing a bet.
📊 What Factors Can Affect The London Mayor's Betting Odds Between Now And The Election?
Candidate announcements, opinion polls, and the national political climate are major factors that can affect the odds. For insights, you should also watch media endorsements and campaign events.
🏛️ How Does The London Mayoral Betting Market Compare To National Political Betting?
Betting on the London Mayor is a more niche market compared to national elections. The liquidity here might be less than what you will find on most
next PM betting sites, which attract heavy volume and constant attention.
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