A big bookmaker has slashed its chances of the prime minister’s resignation by the end of the week.
Betfair are offering odds of 7/1 for Boris Johnson to quit by the end of the week as he faces major backlash from politicians on all sides for attending a party at 10 Downing Street during the lockdown.
The short odds mean that if you wagered € 10 you would make a profit of € 70 if it stopped by the end of the week.
Those who think the Prime Minister could be forced to resign even sooner can get a 16/1 quota to see him resign today (Jan. 12).
The shortest odds on offer are for the Prime Minister to quit by the end of January, with prices reduced to just 4/1.
Betfair’s odds are set by the bookmaker themselves, but the company also offers an exchange service where players can create their own betting market. On Betfair Exchange, the market tends for the UK to have a new Prime Minister by the end of the year.
Betfair’s Sam Rosbottom said: “The latest bets are suggesting the clock is ticking for Boris Johnson as he prepares to face the music over the alleged party at PMQs today.
“Even shorter odds of just 4/1 suggest there is a real chance the prime minister will step down by the end of January while the Betfair Exchange players are using him to get him out of the way before this year’s Conservative Convention (10 / 11-52% chance) or at least until the end of the year (8/11 – 58% chance) and believe that it is only a matter of time before we have a new prime minister. “
Bets are also being placed on who will become the new Conservative leader if Boris Johnson steps down, with Chancellor Rishi Sunak being the clear favorite.
The odds for the next PN are:
- Rishi Sunak 15/8
- Liz Truss 11/4
- Michael Gove 6/1
- Jeremy Hunt 8/1
- Priti Patel, Sajid Javid, Oliver Dowden 14/1
- Tom Tugendhat, Penny Mordaunt 16/1
Mr. Rosbottom added, “In terms of replacement, long-term favorite Rishi Sunak still leads the bets by 15/8, with Liz Truss 11/4 and Michael Gove 6/1 being the next two most likely alternatives should the Prime Minister find it Clear number 10. “