Next UK PM Odds: Boris Johnson Moves Up the Rankings, Rishi Sunak Is Favored
Politics betting odds should be regarded with a grain of salt.
Following the resignation of her home secretary, the dismissal of the chief and deputy chief whips, and numerous public expressions of displeasure from Conservative MPs, Liz Truss relinquished control of Number 10.
After weeks of market and political turmoil, relief was brought about by the appointment of a new Chancellor of the Exchequer and a U-turn on the majority of her economic policies. but only briefly. Following Truss’ resignation on Thursday, the UK is once again looking for a new prime minister after serving a tenure in office that was shorter than her leadership campaign.
Sky Bet continues to back Rishi Sunak, who campaigned against Truss in the Conservative leadership race this summer, paying out 8.64 pounds ($7.87) for every 5 pounds wagered on the former chancellor. After Chancellor Jeremy Hunt declared himself to be out of the running, Leader of the House of Commons Penny Mordaunt moved up to second favourite with odds of 9/4.
Boris Johnson is another candidate moving up the bookies’ rankings. The Times stated that the former prime minister is anticipated to run for the Tory leadership, and Sky Bet lowered chances on him doing so to 4/1.
Despite growing calls for a general election from some quarters, Keir Starmer dropped down the list of likely candidates, indicating bookmakers favour an internal Tory replacement rather than one. Odds from betting on politics should be taken with a large pinch of salt. In markets terms, they reflect the views of retail investors, rather than professional analysts.