A huge gamble has erupted with bookies as punters have bet thousands of pounds on a greyhound representing the Lib-Dems in the first running of the William Hill Political Derby Stakes Greyhound Race tonight at 7pm UK time.

The Lib-Dems, represented by the four-year-old fawn dog called Dowlan, is running in the orange jacket of trap five and has been the subject of an immense gamble to overcome its Labour (trap one) and Tory opponents (trap two) in the first running of the race.

William Hill slashed its odds on a Lib-Dem upset in the last 24 hours to 7/4 second-favourite from 7/2 after punters raced to get on when the betting opened.

David Hood, spokesman for William Hill, said: “We know politics is ‘dog-eat-dog’ and so is this race. We’ve been besieged with bets backing the Lib-Dem dog to win this race including some interesting money from the Westminster area.

“It’s as fiercely contested as the real election race and punters have shown their support of the Lib Dems using the most honest method possible - cold, hard cash.”