Hammond and Rees-Mogg the big movers for next Tory leader

It’s coming up for two months since June’s snap General Election, and there’s been plenty of movement in the market for the next Conservative Leader.

David Davis is favourite to succeed Theresa May, and his odds have largely held station in recent weeks.

Currently negotiating Britain’s path out of the European Union, Davis is 3/1 to become the next Tory leader, and his odds have fluctuated minimally between that and 4/1 since the Election.

But there’s been a flurry of movement behind him.

Chancellor of the Exchequer Philip Hammond is proving popular with punters, who have drilled his odds down from 16/1 into 7/1 second favourite.

Hammond had been as short as 5/1 earlier this month, however, but overall it’s a significant move.

While the odds have come in for Hammond, the opposite applies for Boris Johnson.

Bojo had been firmly in the running at 2/1 in the Election’s aftermath, but the Foreign Secretary can now be backed at 8/1.

Similarly, Home Secretary Amber Rudd has drifted from 6s to 10s during the summer.

The biggest mover of the lot though is Jacob Rees-Mogg.

The current MP for North East Somerset has barely featured on our traders’ radar this year.

But the 48-year-old has seen his odds come tumbling in recent weeks from 50/1 to just 8/1.

Ladbrokes Latest Betting:

Next permanent Conservative leader

David Davis – 3/1

Philip Hammond – 7/1

Boris Johnson – 8/1

Jacob Rees-Mogg – 8/1

Amber Rudd – 10/1

Damian Green – 20/1

Michael Gove – 20/1

Ruth Davidson – 20/1

Sajid Javid – 20/1

25/1 bar

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All Odds and Markets are correct as of the date of publishing