George Osborne out to 7/2 for Tory Leadership

Following Iain Duncan Smith's late night resignation, Ladbrokes on Saturday reported a surge of bets for Boris Johnson to take to the helm at Conservative HQ at 7/4, and the 10/1 on offer for him to take over this year is also proving a popular bet.

The move from IDS has served to dent Osborne's leadership challenge, leaving him at 7/2 in the betting, whilst it's now just 2/1 he's replaced as Chancellor before the end of the year.

Stephen Crabb was chalked up as the 5/1 second favourite to step into the vacant shoes of the Secretary of State at the Department of Work & Pensions.

Jessica Bridge of Ladbrokes told BetOnPolitics.co.uk: "Punters have lost all faith in Osborne and he could well be out of a job sooner rather than later."

Boris Johnson 7/4

George Osborne 7/2

Theresa May 8/1

Michael Gove 8/1

12/1 bar