Next Tory leader betting odds: Boris Johnson 'streets ahead' in race to replace Theresa May

Bookmakers today named Boris Johnson as the clear favourite to replace Theresa May as the next Tory leader.

As Mrs May faces a growing clamour among Conservative MPs to quit, Mr Johnson has been named by Ladbrokes as the 6/4 favourite to take her job.

The betting company said the leading Brexiteer is “streets ahead” of nearest contender Dominic Raab, who is listed at 4/1.

Former foreign secretary Mr Johnson announced he will “of course” stand for the party leadership last week.

Former Brexit secretary Mr Raab this week called for a 5p cut in income tax ahead of an expected announcement of his candidacy.

Behind Mr Raab is foreign secretary Jeremy Hunt (10/1), former Commons leader Andrea Leadsom (12/1) and environment secretary Michael Gove (12/1).

Ms Leadsom is widely thought to be plotting a second leadership bid following her Cabinet resignation on Wednesday. She stood against Mrs May in 2016.

Mr Gove had been regarded as the 5/2 favourite as recently as March, but has now fallen well behind Mr Johnson. He also stood in the 2016 race.