#MoggMentum…Bookmakers cut odds on Jacob Rees-Mogg taking over Tory Party leadership

As Parliament heads towards its summer recess (20 July – 5 September), rumours swirl of a leadership contest for the divided and embattled Conservative Party.

A cruel summer for PM Theresa May, who has made little to no progress on her Brexit mandate, has seen UK media report that Brexit secretary David Davis and foreign secretary Boris Johnson are seeking to take the throne.

However, with the conservatives in dire need of a fresh face UK bookmakers have placed North-East Somerset MP Jacob Rees-Mogg at 10/1 to become next party leader.

Rees-Mogg who has been described as one of the ‘spiritual leaders of Brexit’, has recently gained a cult following on social media, with his followers calling for the Tory Party to implement a #MoggMentum.

The vocal support by of Rees-Mogg by hardline Brexiters has seen bookmakers cull the MPs odds from 50/1 to its current 10/1 price, sitting behind Boris Johnson and Philip Hammond at 6/1 with David Davis as the current front runner at 3/1. 

Speaking to SBC, Ladbrokes’ Head of Politics Matthew Shaddick commented on the market

“The Moggster has gone from 50/1 to just 10/1 to be next Tory leader in the space of two weeks. He’s on the telly a lot at the moment, and put in a decent performance on Question Time the other day but I must admit to being a bit baffled by the move. I suppose if Theresa May is replaced anytime soon, the party will likely be looking for a pro-Brexit leader with some popular appeal; not so long ago Boris would have been that person, but nobody wants to back him anymore. Perhaps Rees-Mogg is the man, but I’m more than happy to lay him at 10/1.”

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