Bookies Cut Odds on Johnson, Hammond Being Next Prime Minister
Bookes are seen cutting the odds being offered on the prospect of Boris Johnson being the next Prime Minister of the United Kingdom according to an assessment of the betting market conducted by Oddschecker.
The moves come amidst signs that the UK electorate could reject Theresa May at the ballot box on June 8.
Just three weeks ago the fight for residency in Number 10 appeared to be a done deal, with Theresa May looking the only viable option.
On the 10th May, the current Prime Minister was as short as 1/40 to keep her place at the top of UK politics, which at the time implied a 97.6% chance of her being named PM following the snap election.
However, it’s not all gone to plan for the Conservative leader who has seen her popularity plummet and alongside it the prospects of her party.
Mainstream media continue to suggest that only two candidates remain in the race for Downing Street, however the bookies have had to slash the odds of three other potential leaders in the last twenty-four hours.
Just three days ago the former London Mayor, Boris Johnson was 200/1 to be Prime Minister come July 1st, however Johnson can now be backed at odds as short as 33/1.
If May fails to land a Tory majority in the House of Commons it will be seen by many as a defeat for the Conservatives, and could lead to a change in leadership.
Following May’s no-show at yesterday’s live debate, Johnson’s percent of bets in the next PM market has risen to 9%, compared to 3% earlier in the week.
Oddschecker report that earlier this morning, the Chancellor of the Exchequer, Phillip Hammond was also cut from 100/1 to 66/1 to be in the top job at the beginning of July with two different bookmakers, whilst his party colleague Amber Rudd came in-from 200/1 to 66/1 following her stand-in performance in the live TV debate.
Away from the Conservative party, Jeremy Corbyn has obviously been prominent in the market to be the next Prime Minister and his chances have increased rapidly over the last week. Before May’s ‘dementia tax’ u-turn, Corbyn was 9/1 to be named PM, but following last night’s televised debate, his odds have been slashed to as short as 10/3.
Lib Dem leader Tim Farron’s attempts to win over remain voters appears to have failed with his odds drifting rapidly throughout May.
On the day the Prime Minister announcement he Snap election, Farron was 18/1 to be named the next PM, however his campaign appears to have derailed, and is now as big as 500/1.
“Theresa May’s somehow losing a grip on the election, and even though her party remain strong favourites, questions will be asked of her leadership which could potentially open the door to fellow party members. It wouldn’t be surprising if the odds of the three politicians mentioned were cut even further in the days leading up to the election as the pressure continues to grow on the Prime Minister,” says Oddschecker spokesman, Sam Eaton.
However, we note that the Conservatives are still on course to win a majority based on analysis conducted by Electoral Calculus.
The majority, based on all polls submitted by May 31, show the party should secure a majority of 86.
This is down from over 100 at the start of the week.
