A huge wager of £22,000 has just been placed on Theresa May becoming the next leader of the Conservative party with the five-figure sum changing the complexion of the market.
The chunky bet, placed at odds of 4/11, has seen the Home Secretary’s price cut into 1/3, leaving Andrea Leadsom second in the betting at 9/2.
Michael Gove is rated an 8/1 shot whilst Stephen Crabb (25/1) and Liam Fox (40/1) remain the rank outsiders for glory.
It’s been a tumultuous 24 hours for both the Tories and our political traders. Boris Johnson’s announcement that he would not be standing to be leader sent shockwaves through the British political scene with Gove expected to be the biggest beneficiary.
However, support for May’s bid hasn’t waned and this latest big bet is another sign of her increasing dominance in the market.
Jessica Bridge of Ladbrokes said: “Theresa is home and hosed as far as the money’s concerned. Even at the short price on offer she is the only candidate attracting any serious attention from punters.”
Ladbrokes latest betting:
Next permanent Tory leader
Theresa May 1/3
Andrea Leadsom 9/2
Michael Gove 8/1
Stephen Crabb 25/1
Liam Fox 40/1
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.