Rachel Reeves odds cut from 100/1 to 33/1.
Reeves most backed over the last hour with 46% of the betting.
Speculation continues to swirl around who will replace Sir Keir Starmer as Labour party leader.
The Prime Minister is ‘a dead man walking’ and his departure is expected imminently as his approval rating slides to new lows.
Rachel Reeves has emerged as a contender to replace Starmer as leader of the Labour party; the Chancellor of the Exchequer is now 33/1, slashed from 100/1 since yesterday.
Punters have rallied behind Reeves over the past hour with 50% of bets making her the most backed candidate to lead the Labour party.
British Politics – Next Labour Leader betting odds
| Candidate | Odds | Implied win percentage |
| Angela Rayner | 2/1 | 33% |
| Wes Streeting | 4/1 | 20% |
| Ed Miliband | 6/1 | 14% |
| Shabana Mahmood | 8/1 | 11% |
| Andy Burnham | 12/1 | 8% |
| Alistair Cairns | 16/1 | 6% |
| Yvette Cooper | 16/1 | 6% |
| Rachel Reeves | 33/1 | 3% |
British Politics – Next Labour Leader betting split (last hour)
| Candidate | Percentage of bets placed |
| Rachel Reeves | 50% |
| David Lammy | 25% |
| Alistair Cairns | 17% |
| John Healey | 8% |
Oddschecker spokesman Chris Rogers stated, “The next Labour leader betting market has been immensely popular in recent weeks.
Punters have shown strong support for one candidate in particular this morning.
“Rachel Reeves is now 33/1, cut from 100/1 to succeed Keir Starmer as leader of the Labour party.
The Chancellor of the Exchequer received 50% of the backing over the last hour making her the most popular choice ahead of the likes of David Lammy (25%) and Alistair Cairns (17%).”
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