Bookies' odds shorten on Theresa May departing this month

Showing You The Door

Bookmakers' odds on Theresa May resigning have shortened again, and the Prime Minister is now 5/2 to resign her post this month, according to Paddy Power.

The betting firm said the new odds are based on May's indecision around Brexit, and the unrest among her Conservative colleagues, 40 of whom agreed to sign a letter of confidence against her over the weekend, which also drove the pound down this morning.

Paddy Power has also cut the odds on the next UK General Election taking place in 2018, in which case Jeremy Corbyn is favourite to become the next PM, at 5/1. The Labour leader comes in ahead of Tories Jacob Rees Mogg, at 6/1, David Davis, with the same odds, Boris Johnson (7/1) and Amber Rudd, at 10/1.

Earlier this month, bookies slashed the odds on Andrea Leadsom stepping in to replace May.

"It looks like we’re getting very close to May Day, as Theresa faces the mother of all struggles to retain authority both in Europe and within her party," said a Paddy Power spokesperson.

"Given that she didn’t want Brexit in the first place, resigning - or being forced out - would be a novel new way for her to perform a EU-turn."

The odds of the UK getting a ‘no deal’ in Brexit negotiations are 2/1, according to Paddy Power.

Full story: Bookies' odds shorten on Theresa May departing this month: City A.M.