The actor was the first to be removed from the house in a double eviction. Sisqo was also given the boot, with Ivana being the only housemate to survive the public vote.
According to a spokesman for the betting company, William Hill paid out a "monster six-figure sum" following Stephen's exit at odds of 1/33 favourite.
"Punters could not get enough of Baldwin and we have taken a thrashing," said spokesman Rupert Adams.
Dane has now emerged as the new favourite to win the series, with his odds being cut from 8/1 to 7/4.
Adams said: "The public are tiring of Vinnie and we have seen a real gamble on Dane to go on and win."
Vinnie's odds now stand at 9/4, while third-placed favourite is Nicola with 7/2.