Rishi Sunak has been installed as the new favourite to be the next Prime Minister.
The Chancellor of the Exchequer is now 5/2 to take over from Boris Johnson with the bookmakers, with Sir Kier Starmer close behind at 3/1.
Sunak was praised last week for his rousing speech detailing how local businesses and households would be supported during the Coronavirus outbreak, which has led the betting firm to slash his odds from 9/1 .
Sir Kier Starmer, who was front-runner at 5/2 last week, has now drifted to 3/1 as it shapes up to become a two-horse race to replace Boris Johnson in No.10.
Tory MPs Michel Gove and Sajid Javid are next in line to replace BoJo at longer odds of 20/1, while Labour’s Rebecca Long-Bailey is now 25/1 alongside Home Secretary Priti Patel.
Phill Fairclough, trading spokesperson for Sporting Index, said: “Rishi Sunak won the hearts of the nation when he announced unprecedented measures to commit to protecting people’s jobs during the Coronavirus outbreak, and that has led to support for him in the betting to become the next Prime Minister.
“The Chancellor of the Exchequer has now gone from 9/1 to 5/2 to take over the reins at No.10, while Sir Kier Starmer is still hot on his heels at 3/1.”
Next Prime Minister markets:
Rishi Sunak: 5/2
Sir Kier Starmer: 3/1
Michael Gove: 20/1
Sajid Javid: 20/1
Rebecca Long-Bailey: 25/1
Priti Patel: 25/1