LONDON — Prime Minister Theresa May called for an early general election on Tuesday morning.

Speaking from the steps of 10 Downing Street on Tuesday morning, May said that an election will take place on June 8 — just six weeks' time — subject to parliamentary approval on Wednesday.

And with Labour leader Jeremy Corbyn welcoming the prime minister's call for an election, it looks certain to go ahead.

So who will win?

The Conservatives are overwhelming favourites on the betting markets to win most seats and an overall majority in a June election, with the party emboldened by Brexit and with Labour polling abysmally under Corbyn.

Here is how betting firm Betfair was pricing the market on Tuesday afternoon:

UK Next General Election – Overall Majority odds

Conservative Majority: 1.16 (2/13)

No Overall Majority: 6.8 (6/1)

Labour Majority: 20 (19/1)

Any Other Majority: 46 (45/1)

UK Next General Election – Most Seats

Conservative: 1.11 (1/9)

Labour: 12 (11/1)

Lib Dems: 50 (49/1)

UKIP: 200 (199/1)

Any Other: 300 (299/1)

Which party do you intend to vote for in June...

... and which do you expect to win?