The Foreign Secretary Liz Truss is now odds-on at 4/7 with the former Chancellor Rishi Sunak to be the final two Tory MPs left in the leadership contest.
In the past 24 hours, the foreign secretary has leapfrogged Penny Mordaunt in both Betfair Exchange markets to be in the final two and the next Tory leader.
With 115 votes to his name, it is almost a forgone conclusion that Sunak will make it to the final two, with the ex-chancellor also the Evens favourite to replace Boris Johnson as Truss follows behind at 9/4, ahead of the fourth ballot on Tuesday, Kemi Badenoch is the 8/11 odds-on favourite to be eliminated.
Betfair Exchange: Next Conservative leader
Rishi Sunak: Evens
Liz Truss: 9/4 (was 5/2 on Monday evening)
Penny Mordaunt: 5/1
Kemi Badenoch: 22/1
Betfair Exchange: To make the final two
Rishi Sunak: 1/100
Liz Truss: 4/7
Penny Mordaunt: 9/5
Kemi Badenoch: 11/1
Betfair Exchange: To be eliminated next
Kemi Badenoch: 8/11
Liz Truss: 7/4
Penny Mordaunt: 17/2
Rishi Sunak: 50/1
Betfair spokesperson Sam Rosbottom said, “With Tom Tugendhat being the latest MP to be eliminated from the Tory leadership contest, we are down to the last four candidates.
“Punters on Betfair Exchange are now backing Rishi Sunak, who needs just five more votes to secure his place in the top two, and Liz Truss to be the remaining Tory MPs battling it out to replace Boris Johnson. Sunak is 1/100, while Truss is odds-on at 4/7, leapfrogging Penny Mordaunt, who is 9/5.
“Sunak is very likely to win a fourth ballot on Tuesday and the ex-chancellor is the Evens favourite to move into No.10 in September.”