Ladbrokes cut their price to 7/2 from 4/1 that 2015/16 will be the coldest since records began in 1910 as punters piled into the market after temperatures dropped to -5.5°C in parts of the country last weekend.
Jessica Bridge of Ladbrokes said: "The odds are dropping as quick as the mercury, and it looks like punters are banking on it being a record breaker to pay for the heating bills."
The two months of freezing temperatures are expected to kill 50,000 Brits this winter in what could be the worst death toll for 40 years due, charities have warned.
The Met Office has warned of cold spells, snow and frost Alamy
Pensioners and energy campaigners have predicted a "death crisis" this winter - exceeding the "appalling" 43,900 excess deaths from last year's mild winter.
ONS figures released today showed last year's figure was two-and-a-half-times higher than the record low of 17,460 in the balmy 2013-14 winter.
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