Odds Slashed on Jacob Rees-Mogg becoming Next Conservative Leader

Jacob Rees-Mogg's surge in popularity shows no signs of slowing down according to bookmakers.

Odds on Rees-Mogg being the next Conservative leader have been slashed with down to 9/1 with some bookmakers. #MoggMentum indeed.

Oddschecker report the best odds are seen at 14/1. Consider that on the fist of July the MP for North East Somerset was seen at 50/1.

The Conservative MP’s popularity has soared in recent weeks thanks to a number of viral social media posts and has now become a likely option to succeed Theresa May as party leader according to the bookmakers.

Reports circulated just over a week ago, regarding a surge in bets for the quirky MP.

“At the time, many believed this was just a spike due to his fifteen minutes of fame, however Rees-Mogg now appears a genuine contender for the top job in the party,” says Sam Eaton at Oddschecker.

And, this month alone, Oddschecker report 75% of all stakes on the next Conservative leader have been placed on Rees-Mogg rising to the top.

Just over 53% of punters have jumped aboard the JR-M bandwagon, as over half of all bets on the market have been on the MP in July.

The volume of support for the Instagram sensation has also catapulted him into contention for next Prime Minister.

The likely candidates such as Labour leader Jeremy Corbyn, Foreign Minister Boris Johnson and the Chancellor Philip Hammond remain among the favourites but Rees-Mogg has entered the fray having been priced at as short as 11/1 with one bookmaker, a far cry from the 66/1 on offer last month.

“Last week we predicted the momentum for Jacob Rees-Mogg would continue to gain pace, but we didn’t expect his price to reach as short as 9/1 this early. One punter will be loving the extra attention for the Conservative MP as he placed £35 on Rees-Mogg at 66/1 in the middle of June,” says Eaton.