Next Labour Leader Betting: Miliband the early favourite as Brown resigns

UK Politics / Maxliu / 10 May 2010 / Leave a Comment

Next Labour leader?

"Following Brown’s announcement today, the chances of David Cameron being the next Prime Minister in a coalition have dropped to 56% (odds [1.8]), from a high of 76% (odds [1.33]) this morning."

Cameron's chances of leading next government slashed by 20% after dramatic announcement

David Miliband is the odds-on favourite at [1.75] (a 54% chance) to replace Gordon Brown as leader of the Labour Party, according to Betfair customers, after the Prime Minister announced that he is to resign in the coming months.

Younger brother Ed Miliband is third favourite, but some way behind at [11.5]. Alan Johnson is marginally ahead on [9.0], while Ed Balls ([16.0]), Andy Burnham ([19.0] and current Deputy Leader Harriet Harman ([20.0]) round out the top six. At bigger odds, Peter Mandelson is [34.0] to make a sensational and successful move for the leadership.

Following Brown's announcement today, the chances of David Cameron being the next Prime Minister in a coalition have dropped to 56% (odds [1.8]), from a high of 76% (odds [1.33]) this morning.

Betfair spokesman Mike Robb said: "Punters are backing David Miliband in the race to become the next leader of the Labour Party following today's dramatic announcement.

"The Betfair markets have also dramatically cut the likelihood of David Cameron leading the next government by 20%, down to 56%.

"It's all up in the air, again."