Who will replace Rishi Sunak as Conservative Party leader? The favourites and odds to take over

Rishi Sunak has announced he is standing down as Conservative leader after the party's disastrous night at the polls. The Tories suffered their worst-ever general election result, winning just 121 seats with two more results left to declare.

A number of high-profile Conservatives lost their seat overnight including former prime minister Liz Truss, Grant Shapps, Penny Mordaunt, Michelle Donelan and Gillian Keegan.

After Labour were confirmed as winners, Mr Sunak spoke to the nation outside Number 10 Downing Street for the final time - confirming he would be standing down as party leader.

READ MORE: General election 2024 results and latest news and updates

He said he would remain quit once arrangements are in place to choose his successor, potentially triggering another round of Conservative infighting as MPs scramble to replace him.

Mr Sunak said: "I will shortly be seeing His Majesty the King to offer my resignation as Prime Minister. To the country, I would like to say first and foremost, I am sorry.

“I have given this job my all, but you have sent a clear signal that the Government of the United Kingdom must change. And yours is the only judgment that matters. I have heard your anger, your disappointment, and I take responsibility for this loss.”

As Mr Sunak confirmed his departure the focus is now on who could replace him, and become leader of the opposition in the House of Commons.

Here are the key contenders to watch and their current odds.

James Cleverly

James Cleverly, who served as home secretary, has yet to declare his intentions and told Sky News in the aftermath of his re-election as an MP: “What might happen in the future I’ll leave that for the near future.”

Mr Cleverly is a centrist who previously served as foreign secretary and was first elected as the Conservative MP for Braintree in May 2015.

He is seen as an outsider with the bookmakers, with Ladbrokes offering 8/1 odds while he is 10/1 with Betfair Exchange.

Kemi Badenoch

Outgoing business secretary Kemi Badenoch is seen as a frontrunner among right-leaning factions and has left the door open to a tilt at the top job by saying “we will talk about leadership things after an election”.

She first became an MP in 2017. Ms Badenoch backed Brexit, and as minister for women and equalities she has made a name for herself as an outspoken voice on gender issues, including by calling for a change to the Equality Act so that sex is defined only as someone’s biological sex.

Ms Badenoch is the early favourite with bookmakers at 2/1 with both Ladbrokes and Betfair Exchange.

Dame Priti Patel

Former home secretary Dame Priti Patel is a longstanding Eurosceptic and became an MP in 2010. She served in cabinet positions under Theresa May and Boris Johnson, as international development secretary and home secretary respectively.

Dame Priti was a leading figure in the Vote Leave campaign, and as home secretary she launched a points-based immigration system, signed the agreement with Rwanda to send asylum seekers to the country and sealed returns deals with Albania and Serbia.

Ms Patel is third favourite according to the early odds, with Ladbrokes offering 5/1 as next leader while Betfair Exchange has her at 7/1.

Suella Braverman

Suella Braverman declared two days before election day that the fight for a Conservative electoral victory is over.

Ms Braverman, a barrister by trade, has a track record of controversial op-eds. She was appointed home secretary by Rishi Sunak, who sacked her from that post over an article accusing the Metropolitan Police of bias in policing protests.

Ms Braverman was previously attorney general for England and Wales under Boris Johnson and has also chaired the Eurosceptic European Research Group.

Ladbrokes has Ms Braverman at 8/1 to succeed Mr Sunak while she is 13/2 with Betfair Exchange.

Robert Jenrick

Robert Jenrick, the MP for Newark, resigned as a minister last December as he claimed the then draft legislation designed to revive the Rwanda deportation policy did “not go far enough”.

Mr Jenrick last month claimed Mr Sunak’s administration was “turning a corner” in its efforts to reduce net migration.

Mr Jenrick is an outsider with the bookmakers, with Betfair Exchange offering odds of 17/2 while he is 8/1 to become leader with Ladbrokes.

Jeremy Hunt

Having previously run for leader in 2019 and 2022, Jeremy Hunt may be reluctant to have a third go.

After surviving a scare to secure his seat in the Commons, Mr Hunt said: “Some Conservatives will wonder whether the scale of our crushing defeat was really justified.

“But when you lose the trust of the electorate, all that matters is having the courage and humility to ask yourself, why? So that you can earn it back again.”

Mr Hunt is not favored among bookmakers to take over. His odds are 11/1 with Betfair Exchange and 7/1 with Ladbrokes.

Tom Tugendhat

Former security minister Tom Tugendhat, who held on in Tonbridge, repeatedly refused to rule out taking a tilt at the top job during the election campaign.

He is seen as being on the centrist wing of the party, meaning he could struggle to convince a more right-leaning Tory membership.

His odds are 9/2 with Betfair and 7/2 with Ladbrokes.

Victoria Atkins

Victoria Atkins, the outgoing health secretary, left the door open for a leadership bid in the run-up to the election.

Ms Atkins, who held her Louth and Horncastle seat with a reduced majority, has been discussed as a contender from the more moderate wing of the party.

Her odds are 18/1 with Betfair Exchange and 14/1 with Ladbrokes.