On Friday morning Theresa May announced her resignation as Prime Minister and Conservative Party leader following a meeting with the Chair of the 1922 Committee of Conservative MPs, Sir Graham Brady.
Boris Johnson is the favourite at 5/4 to replace May as the next Conservative Party leader
…with support coming for Dominic Raab who is now a 3/1 chance, cut from 9/2 following the news on Friday morning.
In 2016 Boris Johnson was forced to drop out of the race to succeed former Prime Minister David Cameron after concluding he didn’t have enough support among Conservative MPs but if our odds are anything to go by, Boris Johnson looks like he will take over as next Conservative Party leader.
Michael Gove, a previous favourite who was as low as 4/1, was pushed out to 10/1 a few days ago but following the news on Friday, he has been cut into 8/1 with David Lidington a big drifter from 12/1 out to 25/1.
In a statement at Downing Street alongside her staff and husband Philip, the Prime Minister said she would step down as leader on June 7th. Boris Johnson is the 11/8 favourite to become the next Prime Minister with Dominic Raab the 3/1 second favourite.
*Prices correct at time of publication
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