Betting interest in the contest to decide who will become the next Conservative Party leader is at fever pitch £11.8m has been wagered on the contest at Betfair alone. Despite the recent media storms, Boris Johnson still remains the firm favourite at 1.4 (89.2%) compared with 6 (16.7%) for Jeremy Hunt (pictured) 7.4 (13.5%). Bet 365 is offering slightly more generous odds of 1/5 (85.7%) on Johnson; the best odds that you can get on Hunt is 4/1 (20%) from Ladbrokes.
Early polls suggest Johnson has the support of around 60% of Conservative councillors, but I think this will come down as his many weaknesses and characters flaws are exposed. I think that it's more likely than not that he'll get less than 60% of the vote. I'm therefore going to recommend that you bet on Johnson getting either 40%-50% or 50%-60% with Ladbrokes at 5/1 and 3/1 respectively. This works out at combined odds of 50%. To split a £10 betting unit properly, put £3.33 on 40%-50% and the rest on 50%-60% (the bet is void if either candidate withdraws).
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Circle sets a new gold standard for cryptocurrenciesCryptocurrencies have existed in a kind of financial Wild West. No longer – they are entering the mainstream, and US-listed Circle is ideally placed to benefit
-
8 of the best converted industrial properties for saleThe best converted industrial properties for sale – from a Victorian railway station in Norfolk to a Grade II-listed former water tower with views of the River Alde
