Rishi Sunak and Penny Mordaunt are battling for market favouritism in the Next Conservative Leader odds market as the top three contenders pull away.
The former Chancellor Sunak, Mordaunt and Truss are the market favourites to replace Boris Johnson, as Tory hopefuls require 30 MPs backing this afternoon to move into the next stage.
Sunak (45/23 best price) has taken the most bets on oddschecker since his resignation last Monday (22%) and has seen his price come in from 10/1 in that time.
Portsmouth North MP Mordaunt (15/8 best price) has been vying with Sunak for favouritism since last Monday and took the most bets on oddschecker between Monday and Wednesday last week.
Truss, who has received the backing of Johnson’s close allies, has seen her price shorten from 10/1 Friday night into as short as 3/1 (7/2 best price).
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Yesterday, Truss had received the backing of 21 Conservative MP’s and will need to pick up 30+ in this evening’s first ballot to move into the next stage.
Kemi Badenoch, who shortened from 100/1 into 10/1 (14/1 best price) over the weekend, is the fourth favourite in the next Conservative leader market, but her price still implies the top three will be the serious contenders moving forward.
Today’s betting on oddschecker has seen around half of the bets (52%) come in for the top two in the market (Sunak & Mordaunt).
15:00 UPDATE: Since midday today, Penny Mordaunt has shortened into odds-on across the board (6/7 best price) to be the Next Conservative leader and has taken over half on the bets on oddschecker (52%). Rishi Sunak has drifted out to 7/2.
