Chancellor of the Exchequer, Jeremy Hunt, is being heavily backed to be the next leader of the Conservative party.
Following Labour's landslide election victory, political gamblers are now focused on who might replace Rishi Sunak as the next Conservative leader.
Keir Starmer's Labour Party secured 412 of the 650 seats available, ending 14 years of Conservative leadership.
Meanwhile, Rishi Sunak suffered a historic defeat, guiding his party to its worst ever result in terms of seats won.
Consequently, Sunak announced his intention to step down as leader of the Conservatives, pending the selection of his successor.
Kemi Badenoch, the MP for North West Essex, is currently the betting favourite to be the next Conservative leader at odds of 5/2 at Betfair.
She has been the most popular bet through oddschecker to replace Sunak so far on Friday, taking 18% of the total bet share.
However, the biggest mover in the market on Friday is Jeremy Hunt, who’s seen his odds slashed to be Tory leader over the past 12 hours.
Next Conservative Leader Odds
| Candidate | Best Odds | Implied Probability |
|---|---|---|
| Kemi Badenoch | 5/2 | 29% |
| Tom Tugendhat | 4/1 | 20% |
| Priti Patel | 6/1 | 14% |
| Suella Braverman | 17/2 | 11% |
| Robert Jenrick | 9/1 | 10% |
| Jeremy Hunt | 9/1 | 10% |
Having been as big as 100/1 on Thursday, Hunt now stands as the 9/1 (best price at Ladbrokes) joint fifth favourite to take the reigns from Sunak as party leader.
He can be found as short as 7/1 elsewhere.
Jeremy Hunt has been the second most popular bet on oddschecker so far on Friday, taking 14% of all bets placed.
Back Jeremy Hunt to be the Next Conservative Leader directly through oddschecker at a guaranteed best price here.
The Chancellor narrowly won in the Godalming and Ash constituency, beating the Liberal Democrats by just 891 seats to avoid becoming the first chancellor in modern history to lose their seat.
The current favourite to take over is Kemi Badenock, the Business Secretary for North West Essex.
She is available at a best price of 5/2 at Ladbrokes.
Having run in 2022, Kemi Badenoch came fourth when the Conservatives voted on their leader. Since then, she has become a popular figure in right-wing politics due to her no-nonsense approach and "anti-woke" principles.
Badenoch had the highest net satisfaction rating of any Cabinet minister in a survey posted by the ConservativeHome website in May (+56.3%).
The other names currently considered inside the five most likely candidates are Tom Tugendhat (4/1), Priti Patel (6/1), Suella Braverman (17/2) and Robert Jenrick (9/1)
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