Mike Drop: Gove cut to 5/1 favourite to be next Tory leader

There’s been a big move in the odds for next permanent Conservative leader – and it’s good news for backers of the Environment Secretary.

Following his memorable speech in the House of Commons last night, punters have piled in on Michael Gove – with his odds tumbling into 5/1 (from their previous 12/1).

The 51-year-old is closely followed in the betting by Boris Johnson and Sajid Javid, who share second-billing at 6/1 apiece.

Dominic Raab is next up at 8s, while there’s 10/1 for Jeremy Hunt to take the top job.

Further down the betting, Jacob Rees-Mogg is now as long as 16/1 to be Theresa May’s successor.

Jessica Bridge of Ladbrokes said: “Political punters were incredibly impressed with Gove on Wednesday night; his attack on Corbyn showed what sort of leader he could be and that’s why his odds have dramatically shortened in the last 24 hours.”

Ladbrokes Latest Betting:

Next permanent leader of the Conservatives

Michael Gove – 5/1

Boris Johnson – 6/1

Sajid Javid – 6/1

Dominic Raab – 8/1

Jeremy Hunt – 10/1

Amber Rudd – 16/1

Jacob Rees-Mogg – 16/1

Penny Mordaunt – 20/1

25/1 bar

Click here for the latest next Tory leader odds.

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