The unexpected Tory gains hit the wallets of spread betting punters after several big wagers were placed on a strong Labour performance in the days leading up to the election.

With the spread on the Labour majority moving as high as 86-90 seats on Tuesday, IG Index took its biggest bet of the campaign a £2,000 buyer of a government majority of 84. The majority of about 65 means the buyer will be at least £38,000 out of pocket.