Boris Johnson is the new favourite to be the next leader of the Conservative party, according to bookmaker Ladbrokes.
His decision to back a Referendum leave vote on Sunday saw him leapfrog Chancellor George Osborne to the top of the betting, with his odds shortening from 11/4 to 2/1 with Ladbrokes.
Other notable Outers also saw their odds shorten, with Michael Gove going from 16/1 to 10/1 and Priti Patel in from 25/1 to 16/1.
The odds of the UK voting to leave the EU also improved on the news, from 12/5 to 2/1. That came after a weekend of almost non-stop betting support for Remain to win, following David Cameron's negotiation efforts in Brussels.
“The betting markets believe that Boris might make some difference to the Out campaign, but mostly that this improves his chances of succeeding Cameron at No. 10,” Ladbrokes spokesman Matthew Shaddick told BetOnPolitics.co.uk.
Ladbrokes latest betting
EU Referendum result
1/3 REMAIN
2/1 LEAVE
Next Tory Leader
2/1 Boris Johnson
3/1 George Osborne
8/1 Theresa May
10/1 Michael Gove
12/1 Sajid Javid
16/1 Priti Patel
25/1 Philip Hammond
33/1 Liam Fox