Odds on Rishi Sunak to leave his role as Tory leader next year have tumbled to 5/6 from 10/11 after a first no confidence letter was submitted last night.
Kemi Badenoch is the 7/2 favourite to replace Sunak, with the recently sacked Suella Braverman 17/2 for the job.
Labour are 4/11 to win a majority at the next general election, which punters are backing at 7/10 to take place between October and December next year.
Betfair Exchange: Year Rishi Sunak will be replaced as Conservative leader
2024: 5/6 (was 10/11 on Monday)
2025 or later: 11/10
Betfair Exchange: Next Conservative leader
Kemi Badenoch: 7/2
James Cleverly: 5/1
Penny Mordaunt: 6/1
Suella Braverman: 17/2
Betfair Exchange: Next general election – overall majority
Labour majority: 4/11
No overall majority: 7/2
Conservative majority: 12/1
Betfair Exchange: When will the next general election take place?
January-March 2024: 23/1
April-June 2024: 16/5
2025 or later: 13/1
Betfair Exchange spokesperson Sam Rosbottom said: “Odds on Rishi Sunak to leave his role as Tory leader next year have been slashed to 5/6 from 10/11 as Andrea Jenkyns became the first MP to submit a letter of no confidence after the prime minister’s cabinet reshuffle on Monday.
“Kemi Badenoch is the 7/2 frontrunner to replace Sunak, while Suella Braverman, who was sacked as home secretary at the start of the week, is 17/2 for the job.
“Labour remain clear 4/11 favourites to win a majority at the next general election, which is being backed at 7/10 to take place between October and December next year.”