Boris Johnson continues to be backed to become the next Tory leader by Betfair Exchange punters with his odds shortening to 2/1 from 3/1.
The former Prime Minister is odds-on at 8/15 to receive 100-plus nominations from party MPs to run in the leadership contest.
Rishi Sunak remains the favourite to replace Liz Truss, but his odds have drifted to 10/11 from 4/6 in the past few hours, while Penny Mordaunt is 6/1 after confirming she will run in the leadership contest.
Betfair Exchange: Next Conservative leader
Rishi Sunak: 10/11 (was 4/6 on Friday morning)
Boris Johnson: 2/1 (was 3/1 on Friday morning)
Penny Mordaunt: 6/1 (was 9/1 before confirming she will run in contest)
Betfair Exchange: Boris Johnson to receive 100-plus nominations
Betfair Exchange: How many candidates will receive 100-plus nominations?
Betfair spokesperson Sam Rosbottom said: “Boris Johnson’s odds to be the next Tory leader continue to shorten with the former Prime Minister now 2/1, having been 3/1 on Friday morning, to replace Liz Truss, while he is odds-on at 8/15 to receive more than 100 nominations from party MPs to allow him to run in the Tory leadership contest.
“Johnson looks set to face tough competition from Rishi Sunak, who remains the 10/11 favourite to move into No.10, with Penny Mordaunt’s odds coming in at 6/1 from 9/1 since announcing she will run in the leadership contest for a second time this year.”