Rishi Sunak is back as favorite to get the PM Chair in UK. Liz Truss relinquished control of Number 10 following the resignation of her home secretary, the dismissal of the chief and deputy chief whips, and numerous public expressions of displeasure from Conservative MPs.
After weeks of market and political turmoil, relief was brought about by the appointment of a new Chancellor of the Exchequer and a U-turn on the majority of her economic policies. but only briefly. Following Truss’ resignation on Thursday, the UK is once again looking for a new prime minister after serving a tenure in office that was shorter than her leadership campaign.
Rishi Sunak Hot favorite again
Sky Bet continues to back Rishi Sunak, who campaigned against Truss in the Conservative leadership race this summer, paying out 8.64 pounds ($7.87) for every 5 pounds wagered on the former chancellor. After Chancellor Jeremy Hunt declared himself to be out of the running, Leader of the House of Commons Penny Mordaunt moved up to second favourite with odds of 9/4.
Boris Johnson is another candidate moving up the bookies’ rankings. The Times stated that the former prime minister is anticipated to run for the Tory leadership, and Sky Bet lowered chances on him doing so to 4/1.
Keir Starmer slipped down the list of likely candidates, suggesting bookies favor an internal Tory replacement rather than a general election, despite pressure building for one from the opposition. Odds on the Labour leader plummeted to 40/1 on Sky Bet.
Odds from betting on politics should be taken with a large pinch of salt. In markets terms, they reflect the views of retail investors, rather than professional analysts.
