Bookmakers have slashed the odds of Theresa May being ousted as the Prime Minister suffered another humiliating defeat over her Brexit deal.
Mrs May faced a day of disappointment as the Attorney General put pay to her hopes that last-minute alterations to her deal with the EU would win her the support of MPs in her crunch vote, followed by a resounding defeat as she lost by 149 votes.
Shortly after the result, bookmakers Paddy Power said odds that Mrs May would be replaced as Prime Minister in 2019 had dropped to 4/9, while odds of her being replaced in 2020 or later were put at 13/8.
Theresa May is now 4/9 to be replaced as Prime Minister in 2019. https://t.co/DJiYTfE1Pl
— Paddy Power (@paddypower) March 12, 2019
As many speculated that the Government would lose the vote on Mrs May’s deal on Monday, Ladbrokes offered odds of 2/5 that the PM will be gone by the end of the year, with 4/1 that she will be replaced this month.
Odds of her being replaced in April this year are 8/1, with 12/1 for May and 14/1 for June. Ladbrokes said odds of Mrs May leaving in 2020 were at 3/1, with 10/1 given for her going in 2021.
Coral also reportedly slashed odds on May leaving her position on Wednesday to just 3/1 following her crushing defeat, with odds of 1/2 given on her not seeing out the year as Prime Minister.
With the issue of Brexit still unresolved, odds are also on offer on other elements of Britain’s future.
Ladbrokes offered odds of 5/2 for another UK EU Referendum before the year is out, with 5/1 that the result will be remain.
Following Tuesday night’s vote, William Hill said it is now offering odds of 1/8 that Article 50 is extended, with 6/1 that the UK leaves the EU with no deal and 12/1 that Article 50 is revoked.
Spokesman Joe Crilly said: “The odds of Article 50 being extended and the odds of the UK leaving with no deal have both been cut. Who knows what will happen?”