Odds cut on Leadsom withdrawing from Tory leadership race

Another fascinating weekend in politics has seen a number of market movers in the hot leadership contests with Conservative candidate Andrea Leadsom in danger of slipping away from rival Theresa May, according to our political punters.

Following a high-profile spat with her fellow hopeful the South Northamptonshire MP has been cut from 10/1 to 7/1 to withdraw from the race before July 31.

And Leadsom wasn’t the only individual to be subject to a flurry of activity.

Labour leader Jeremy Corbyn is now odds-on to see out 2016 at 4/7 although on the flip side it’s just 2/1 for the Labour party to split this year.

Meanwhile, Andrea Eagle is the 3/1 favourite to replace Corbyn and be the next Labour leader with Arron Banks now the clear second favourite to succeed Nigel Farage as the head of UKIP following Paul Nuttall’s withdrawal.

The party donor still has a lot of work to do though with Steven Woolfe 4/5 to take the helm.

Alex Donohue of Ladbrokes said: “We’re in the midst of record political betting activity when it comes to leadership races and contests. The money we’ve seen in the last day suggests Corbyn is safe, Banks will take over UKIP and Leadsom could drop out of the race.”

Ladbrokes latest betting:

Jeremy Corbyn to be Labour leader on January 1st 2017 – 4/7

Labour to split in 2016 – 2/1

Next Labour leader

Angela Eagle – 3/1

Owen Smith – 9/2

David Miliband 10/1

Clive Lewis – 12/1

John McDonnell – 12/1

Dan Jarvis – 14/1

Hilary Benn – 14/1

20/1 bar

Next UKIP leader

Steven Woolfe – 4/5

Arron Banks – 5/1

Diane James –  7/1

Suzanne Evans – 10/1

16/1 bar

Next Conservative leader

Theresa May – 2/9

Andrea Leadsom – 10/3

Andrea Leadsom to withdraw from race before July 31 – 7/1

Click here for the latest Politics odds and keep checking back for the latest news and insight from our political betting team.

All Odds and Markets are correct as of the date of publishing.