Theresa May didn’t hang about when it came to replacing Sir Michael Fallon, who quit on Wednesday following allegations about his past behaviour. The Prime Minister announced Fallon’s replacement would be Gavin Williamson.
The 41-year—old, the MP for South Staffordshire has been in Parliament since 2010, and although he has previously never been too prominent in the public eye, punters believe he could become a household name. Since his appointment, Mr Williamson has accounted 68% of bets to replace Theresa May as the next Prime Minister.
A few lucky punters managed to place their bets before traders reacted on the news, with one London based bettor placing £45 on Williamson at 100/1. The majority were not so lucky, the new defence secretary’s odds have now been cut to as short as 16/1.
There’s also been an influx of money for Tom Tugendhat to replace May at the top, with the rising star admitting last week that “it would be great to be Prime Minister one day”. Tugendhat has accounted for 11% of bets this morning in the market, and can still be backed at 50/1.
Following today’s re-shuffle, Boris Johnson, Jacob Rees-Mogg and Amber Rudd’s odds have all drifted. Johnson can now be backed at 13/2 for the top seat in No.10, Rudd’s moved to 14/1 with one bookie and Rees-Mogg can be backed at 9/1.
Oddschecker spokesman, George Elek “It is no surprise to see Williamson's price shorten after his high-profile appointment has catapulted him into the public political consciousness. It would be some manoeuvre to usurp the Prime Minister, after she has entrusted him with the role, but Westminster is infamous for such activity so the lucky punter on at 100/1 will be hoping for more drama to unfold.”