Jeremy Corbyn is now odds-on favourite to become next Prime Minister

Markets suggest that Boris Johnson is most likely to take over from Theresa May

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Indy Politics

Jeremy Corbyn is now favourite to become the next Prime Minister.

The Labour leader is now more likely to lead the country than Theresa May, according to Betfair Exchange.

People backing Mr Corbyn for leader will win £2.48 for every pound they put on. Those backing Ms May will win £2.58 – suggesting that it is slightly less unlikely.

Neither of the leaders is projected to win a working majority, if the exit poll and most reliable indications are correct. Those suggest that the result will be a hung parliament – from which either leader could try and run the country, should they be able to get enough other parties into a coalition.

Some of that effect is likely because of the surge in Corbyn's chances have led people to put bets on in the hope of a payout. Others will be because punters are betting on other Tories, amid speculation that Ms May might be forced to step down.

The most likely Conservative to take over from Theresa May is Boris Johnson, according to Ladbrokes. That site also suggests that Jeremy Corbyn is the most likely person to become prime minister.

It's still most likely that the Conservatives will win a majority, according to Ladbrokes. But the odds are very close between a Tory win and a hung parliament.

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