Boris Johnson quitting odds slashed as Prime Minister rocked by resignations

The winners and losers of a dramatic night in politics on Tuesday (July 5) appear to be former Chancellor Rishi Sunak and - for now - Prime Minister Boris Johnson. The odds for Johnson quitting this year are 1/7 while several bookmakers now put Sunak as favourite to replace him at No 10 with odds of 10/3 with bet365.

The Chancellor and Health Secretary Sajid Javid resigned just after 6pm last night. Sunak was 10/1 generally in the market pre-resignation, but his departure from cabinet has seen him cut into favourite to replace Johnson.

Sunak has taken 20% of bets staked on oddschecker in the past 24 hours to take over next from the Prime Minister. Sky Bet have priced Johnson’s exit date for 2022 at 1/7 (previously 4/5) following the news breaking, reports oddschecker.com.

Read more: 'It should have been game over a long time ago' – North East MPs react as Boris Johnson clings to power

Penny Mordaunt has emerged as the general second favourite to become next PM, priced at 7/1 with a couple of bookmakers. Fellow Tory MP Jeremy Hunt (8/1 best price) is the third most backed on oddschecker with 16% of bets backing him to next lead the country.

The news of the former cabinet duo’s departure came minutes after Johnson had admitted to knowing of allegations against deputy chief whip Chris Pincher of sexual misconduct. Javid’s letter said that the PM had lost his confidence and that he believes the public are concluding that the government is "neither popular nor acting in the national interest".

Sunak soon followed, echoing his ex-colleague that the government had “lost their confidence” and “expect the government to be conducted properly, competently, and seriously”.

Next Prime Minister odds - best price

Rishi Sunak: 4/1

Penny Mordaunt: 7/1

Jeremy Hunt: 8/1

Liz Truss: 9/1

Ben Wallace: 10/1

Nadhim Zahawi: 12/1

Keir Starmer: 16/1

Sajid Javid: 13/1

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