Liz Truss is being tipped to become the next Prime Minister by bookmakers, despite Rishi Sunak leading the way in the Conservative leadership race.
The race was whittled down to the final two candidates on Wednesday, after Penny Mordaunt dropped out of the running.
In the final round of voting by Tory MPs, Ms Mordaunt received 105 votes, Mr Sunak 137 and Ms Truss 113.
But despite Mr Sunak picking up the most votes within Tory MPs, Ms Truss is the favourite with the bookies to become the next party leader.
Liz Truss is the bookies favourite to be the next PM
PA
The Foreign Secretary is odds-on at 4/6 to become the next PM, according to the Betfair Exchange.
While Mr Sunak is currently the 6/4 underdog to replace outgoing Prime Minister Boris Johnson.
Betfair spokesperson Sam Rosbottom said: “It will be Liz Truss and Rishi Sunak going head-to-head to be the next Tory leader following Wednesday’s final Tory leadership ballot.
“Odds on Liz Truss to replace Boris Johnson have been slashed to 4/6 from Evens since the ballot results, while Sunak is 6/4 to move into No.10.”
The Foreign Secretary is odds-on at 4/6 to become the next PM, according to the Betfair Exchange
Kirsty O'Connor
Despite the odds, Mr Sunak believes he is the best placed candidate to beat Labour’s Sir Keir Starmer at the next election.
He said: “We need to restore trust, rebuild the economy and reunite our country.
“I’m confident that we can do that and we’ve got a really positive message to take out to all our members now – crucially, who is the best person to beat Keir Starmer and the Labour Party at the next election?
“I believe I’m the only candidate who can do that.”
Mr Sunak and Ms Truss will now face a campaign to win the votes of Tory members, with the result of the contest announced on September 5.
The winner is expected to replace Boris Johnson as Prime Minister the following day.