Bookies Ladbrokes report that the former MP is set to land yet another 2016 shock.
Gangnam Style dancing Balls has seen his odds of winning Strictly plummet to 20/1 from 50/1 in the week following Donald Trump's US Election victory, meaning Balls, who also entered his race as a 150/1 no-hoper is no longer the biggest outsider left in the running.
After tonight's dance off, Greg Rutherford is now the rank underdog at 25/1, with Robert Rinder next after Balls at 14/1.
But at the top of the betting it remains Danny Mac (11/10) and Louise Redknapp (5/2) in first and second position.
Alex Donohue of Ladbrokes said: "Punters sense another political earthquake is on the cards as an outsider who entered the race as a novelty act at long odds makes serious headway.
"Balls is moving off the foot of the betting table and should he get past Blackpool, we have to consider him a likely candidate to deliver another 2016 upset."
While he has been repeatedly bottom of the table, Ed was told by Craig Revel Horwood he could definitely win the show during It Takes Two last week.
On Ed Balls' shock success, Craig said: "I'm not saying Ed Balls won't go to the final because he very may well do... and then I'll probably end up doing panto with him and Anne Widdecombe. That's something to look forward to!"
He continued: "I think it's about a race with the people at home. It's about getting votes at this stage."
Now seven couples remain the competition with the pairings heading off to Blackpool next Saturday night for the traditional special.
Who are you backing to win as we approach Blackpool weekend? Vote in our latest Strictly Come Dancing 2016 popularity poll below...
Strictly Come Dancing's live shows continue next Saturday night on BBC One.