Next Tory leader odds: Michael Gove now bookies' favourite to replace Theresa May

Michael Gove is now the favourite to become the next Conservative Party leader.

After another humiliating night for Theresa May, in which Parliament wrested control of the Brexit process from her government, Environment Secretary Mr Gove is now the bookies’ favourite to take over.

With Mrs May’s position looking increasingly perilous, betting comparison website Oddschecker has Mr Gove as the 7/2 favourite to replace her.

Boris Johnson, a known leadership wannabe who has spent the past nine months since resigning as foreign secretary loudly criticising Mrs May’s handling of Brexit, is the second favourite at 6/1.

Mr Johnson famously pulled out of the Tory leadership contest in 2016 after Mr Gove, who was his ally, announced his plans to stand as well.

Current foreign secretary Jeremy Hunt (10/1) and former Brexit secretary Dominic Raab (12/1) are also in contention.

But as of Tuesday, the odds remained firmly with Mr Gove, who is also 4/1 in betting odds for the next Prime Minister.

It highlights Mr Gove’s turnaround since he was seen as stabbing Mr Johnson in the back when he stood against him in 2016.

After a year in the wilderness, Mr Gove was brought back to the Cabinet in 2017 and has recently been entrusted by Number 10 to deliver key – and often flamboyant – Brexit speeches in the Commons.

Meanwhile, despite the Tories’ woes, the party is still ahead of Labour in the odds to win the most seats at the next general election.

Oddschecker has the Conservatives at 5/6, with Labour at 6/4. The Liberal Democrats' battle to remain relevant is highlighted by the party's 100/1 price.