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Boris odds-on in next PM market as Cameron resigns after UK votes for EU Brexit

Jamie Clark, Editor | June 24, 2016

Following the momentous decision taken by the British public to leave the European Union and the announcement by Prime Minister David Cameron that he is to resign, Coral have installed leading Brexit campaigner Boris Johnson as the odds-on 8/11 favourite to succeed his fellow Conservative.

Manifesto pledge backfires on Cameron

EU referendum

Carrying out a 2015 General Election manifesto promise to hold a referendum on the UK’s future as an EU member state, Cameron standing down just 13 months after gaining the first Tory majority in more than two decades is a huge shock to the political landscape.

“Having played a leading role in the Vote Leave campaign, Boris Johnson would seem to be in pole position to replace David Cameron when the PM steps down,” said Coral’s David Stevens.

Having passionately sided with the Remain campaign, speculation quickly surrounded Cameron’s position since the Leave vote came in with roughly a 52 to 48 per cent victory – a difference of more than 1m votes.

Boris backed as strong favourite

Brexit referendum

Also odds-on at 8/13 to be next leader of the Conservative Party, former Mayor of London Johnson is the current MP for Uxbridge and South Ruislip. He has proved a marmite character depending on your political allegiance, having shot to prominence as editor of The Spectator and guest host of the popular satirical TV quiz Have I Got News For You.

Home Secretary Theresa May, who kept very quiet during the EU Referendum campaign, remains second-favourite in both the next Prime Minister betting (7/2) and Tory leader (5/2) market.

Lord Chancellor and Justice Secretary Michael Gove was another prominent Conservative in favour of Brexit, and is a 13/2 chance to succeeded Cameron as PM and 9/2 to be the party’s next leader.

Osborne in danger, Corbyn could be too

EU referendum

Siding with the Remain campaign appears to have discredited Chancellor George Osborne, who has now drifted to 40/1 to swap number 11 for number 10 Downing Street.

Osborne, who will now be preoccupied with the economic fallout of the UK deciding to leave the EU, is also a 33/1 shot to lead the Tories.

Labour leader Jeremy Corbyn, meanwhile, will come under increased pressure after putting party political differences aside to join Cameron and Osborne to support Remain. Betting on who could succeed him, however, is wide open with the Labour vote proving crucial in Brexit.

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