Rishi Sunak is the favourite to be the next leader of the Conservative party after Boris Johnson said he would resign today.
The prime minister eventually bowed to enormous pressure following a record number of resignations, as events accelerated at an extraordinary pace to bring to an end Johnson's three-year premiership.
Yet, at one point, Boris was backed at 18.017/1 on the Betfair Exchange to leave this year.
Sunak, who quit as chancellor on Tuesday, was backed in to 6.05/1 on the Betfair Exchange as Penny Mordaunt drifted to 7.26/1.
Ben Wallace 8.615/2, Liz Truss 10.09/1, Sajid Javid 10.09/1, Nadim Zahawi 13.5 and Jeremy Hunt 14.013/1 are the other frontrunners.
General election this year is 12/1
Johnson's resignation raises the possiblity of a general election but bettors are in no hurry to back one this year.
A 2022 general election is 13.012/1 on the Exchange while 2024, when it is scheduled to take place, is 1.241/4.
But watch this space. Johnson and Theresa May both called early general elections, despite ruling it out several times, when they came to power midterm. A general election next year is 4.94/1.
Yesterday, the odds on the Tories winning a majority at the next election shortened - from around 4.03/1 to 3.65 - when Johnson's exit became inevitable. A hung parliament is the favourite at 1.794/5.
Johnson wants to stay on as prime minister until the autumn, when the leader of the Conservative leadership contest will take over.
But he may face opposition from MPs who argue that it would be dangerous for a man whose premiership is ending in disgrace to be in charge of the country any longer.
Dominic Raab is the 5.79/2 favourite to be the next prime minister. As deputy PM, he would be the natural, if controversial, choice to take over as caretaker if Johnson is prevented from staying on in the interregnum.