Following two days of turmoil in Westminster over the Prime Minister’s Brexit plans, the odds on an election this year have tumbled to just 6/4 with high street bookmaker Betfair.
They previously stood at 5/1.
The Prime Minister’s future is perhaps the most unstable of everyone in Westminster.
The same bookmaker has odds of 2/1 on Mrs May not lasting the week.
They think it is an almost certainty that she will not make it to the autumn, with astonishing odds of 5/6 of the Tory leader not making it until September.
There are several names being considered as to who could replace Mrs May if she is jumped or pushed, however, Betway think that the most likely option is the newly resigned former Foreign Secretary.
Boris Johnson is currently the 3/1 favourite to be the next person to walk into Number 10, a prospect which could be welcome news to Brexiteers at home and in the Cabinet.
However, Brexiteer or Remainer, the next eight months will be tricky for whoever takes resident on Downing Street, and the British public aren’t confident of a deal.
The bookmakers are offering evens on there not being a deal before the final Brexit deadline of the end of March next year.
A spokeswoman for the bookmaker claimed that if “any other key laters leave the Tory Party, then those odds will shorten even further”.
The mood is similar across the industry, and the British public and bookmakers seem fairly sure that the fourth major vote in as many years could be on the horizon.
Ladbrokes are currently offering odds of 7/4 for a General Election before the year is over.
William Hill are offering a similar rate, with odds of 6/4 on Britain getting the opportunity to choose a new Prime Minister.
The Prime Minister is due to meet with her new Cabinet today for the first time, with Jeremy Hunt having filled Boris Johnson’s shoes at the Foreign Office, and Matt Hancock moving into the health brief from the Department of Culture, Media, and Sport.
Mr Hunt has claimed that he stands “four square” behind the PM, as she faces the threat of a Brexiteer mutiny from the backbenches just days before she is due to announce the White Paper on Brexit.