Paddy puts odds on a Miliband premiership at 8/11 while rival David Cameron is at 11/10.
Betting companies such as Betfair and Ladbrokes also made Miliband and the Labour party favorites to win.
Meanwhile, Paddy Power faces rising protests from London Borough of Croydon residents, as the operator plans to open a new betting shop on Thornton Heath high street.
Paddy has signed a long-term lease for the shop which will be placed next to Thornton Heath station and is seeking license approval from the council.
A group of concerned residents have started an online petition against the operator’s plans, branding the operator as irresponsible due to the seven betting shops already in the Croydon area—including three that are in close proximity of Thornton Heath high street.
Bensham Manor Councilor Jamie Audsley said that the council is looking for an alternative commercial property over a bookmaker.
“From my perspective, the last thing we need is another betting shop in the Thornton Heath area. I am not anti-betting in particular but we are looking to support a high quality and diverse range of shops in Thornton Heath,” said Audsley. “The council will explore ways we can encourage a diversity of shops in district centres but we have very few powers to stop applications like these.”
To which Paddy responded: “Paddy Power is a responsible operator that takes proactive measures to offer a safe, responsible and enjoyable leisure experience for its customers and the community.
“Opening a new Paddy Power betting shop is a major local investment averaging around £280,000 per shop and creating, on average, five new jobs. At a time when the UK high street is facing unprecedented challenges we believe we can make a positive contribution to local communities like Thornton Heath.”