The MP for West Suffolk, who has been a surprise late announcement for the show, has also been made the 1/3 favourite to contest the first bushtucker trial he is available to be voted for.
Other odds for Hancock include 7/1 to be the first celebrity eliminated by the public and 3/1 to quit the jungle at any time after entering. He starts the show as the outsider for jungle glory, with Jill Scott (10/3), Mike Tindall (9/2) and Boy George (11/2) among those leading the betting.
However, the former health secretary is the favourite to win the first bushtucker trial.
William Hill spokesperson Lee Phelps said: “Matt Hancock will be swapping political practice in West Suffolk for bushtucker trials in New South Wales, and we make the former health secretary heavily odds-on at 1/3 to face a trial as soon as he’s in the jungle.
“Our markets suggest he may not be one of the frontrunners to sit on the throne in Australia at 10/1, with Jill Scott and Mike Tindall continuing to be favoured by punters, but certainly keep an eye out for how Hancock approaches what promises to be a stellar edition of the popular reality show.”
Mr Hancock was suspended as a Tory MP on Tuesday after agreeing to take part in I’m a Celebrity … Get Me Out of Here! He now sits in the Commons as an independent.
The chief whip, Simon Hart MP, said: “Following a conversation with Matt Hancock, I have considered the situation and believe this is a matter serious enough to warrant suspension of the whip with immediate effect.”
Rishi Sunak criticised Mr Hancock for going on the ITV show in the middle of a worsening cost-of living crisis.
The Prime Minister’s official spokesman said: “The Prime Minister believes that at a challenging time for the country, MPs should be working hard for their constituents, whether that’s in the House (of Commons) or indeed in their constituency.”