The race for the leadership of the Conservative party is well underway, having started a few days after Boris Johnson resigned as party leader. The outcome should be known by early September but who can you bet on winning the contest and how do you do this? Just two candidates remain in the race after the field narrowed down considerably.
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The former Chancellor of the Exchequer declared himself in the race early on and has been backed by Dominic Raab and Mel Stride, among others. If we look at the politics betting section on Betfair, we can see that Sunak is sitting at odds of 13/2 at the time of writing. This part of their site covers elections and leadership battles from other parts of the world too.
Before going ahead, you might like to check out some of the latest tips and predictions on political subjects. By looking at current stories, you can more fully understand the odds on offer and look for bets that suit you, with reports on this leadership battle and the US presidential elections currently among the latest news.
Sunak has been the MP for Richmond in Yorkshire since 2015 and had been Chancellor since early in 2020 until his resignation just before Johnson resigned. Indeed, Sunak’s letter saying that he had economic policy differences with Johnson is believed to be one of the reasons the PM left the office, although it isn’t yet clear whether voters view him in a more negative or positive light because of this.
Foreign Secretary Liz Truss was backed by Simon Clarke and Thérèse Coffey when she declared she was entering the leadership race a few days after Sunak. She’s served in several different Cabinet positions since becoming MP for South West Norfolk in 2010.
One of the most interesting aspects of the leadership contest has been Truss’ pledge to cut taxes immediately and help people to deal with the cost of living issues if chosen to lead the party. This is part of her wider pledge to “govern as a Conservative” and at the moment she is the favorite to win, at odds of 1/16.
How to Bet on the Outcome
There’s no doubt that the race to become the next Tory leader has captured the public’s interest, and this has led to a high level of interest in betting on the outcome. This can be done by entering an online bookmaker site and looking for the latest odds on the political bets or specials page.
After signing up as a member and making a deposit, you can choose the bet you want to make and the amount of the stake, which will lead to the potential return is automatically calculated. If you confirm the wager, you then just need to wait and find out if your prediction is right, and if it is you’ll get paid out automatically.
Betting on political events like this has become easier than ever before, but you still need to do some research and try to work out what’s most likely to happen before going ahead.