POLITICAL BETTING: Jeremy Corbyn is the favourite to be the next Prime Minister

Jeremy CorbynIan Forsyth / StringerJeremy Corbyn is more likely to be the next PM than Boris Johnson, bookies say.

Jeremy Corbyn is still the firm favourite to be the next Prime Minister after Theresa May, despite facing a backlash from his own MPs and performing poorly in voter polls.

Corbyn has odds of 5/1 from William Hill and 9/2 from Ladbrokes to succeed May as the leader of the UK, well ahead of Foreign Secretary Boris Johnson and Corbyn’s own Labour leadership rival Owen Smith.

Corbyn is also the overwhelming favourite to remain Labour party leader in the election next month, with William Hill’s Graham Sharpe saying that “Owen Smith hasn’t captured the imagination of political punters and there is little support for him to cause an upset in the Labour leadership race.”

Corbyn recently came out against trying to reverse the Brexit vote, telling the Huffington Post that a mandate had been set:

“I think we’ve had a referendum, a decision has been made, you have to respect the decision people made. We were given the choice, we after all supported holding a referendum so we must abide by the decision. Is there a way of having a European Economic Area agreement, possibly via Norway and other countries? Yeah, there probably is.”

The stance could be a bone of contention for many Labour members who wanted a Remain vote, especially as Corbyn’s allegedly half-hearted campaigning for the UK to stay in the EU was the spark for a Labour MP rebellion.

David Moon, a politics lecturer at the University of Bath, recently told Business Insider’s Adam Payne that Corbyn’s continued leadership of Labour would be a disaster for the party:

“I always thought that Jeremy Corbyn was going to be a failure. I don’t think it was evident that we were going to find ourselves in a situation where the party was going to split but it was certainly clear that he [Corbyn] was not going to be able to lead the party in a successful manner.”

But apparently bookmakers don’t think there is anyone more likely to go to the top after May leaves office. Here are the current odds on who will be the next Prime Minister:

  • Ladbrokes: Corbyn 9/2 — Johnson 7/1 — Smith 12/1
  • William Hill: Corbyn 5/1 — Johnson — 7/1 — Smith 9/1
  • Paddy Power: Corbyn 11/2 — Johnson 8/1 — Smith 13/2

NOW WATCH: INSTANT POLL: Americans viewed Clinton’s convention speech more favourably than Trump’s

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.