Rishi Sunak is the current favourite to be the next Prime Minister as Defence Secretary Ben Wallace today ruled himself out of the race. He said after "careful consideration" that he would not stand in the Tory leadership contest.
The latest prices from Betfair Exchange now have former Chancellor Mr Sunak as 13/8 favourite. Mr Wallace's odds had shortened to 5/1 from 13/2 before he said he would not take part.
Betfair Exchange's latest odds are: