In Chancellor Rishi Sunak's resignation letter to Boris Johnson on Tuesday night, he wrote that he recognised in stepping down it might be his last ministerial job. However, not according to the bookies.
They now make the former Chancellor favourite to take over from Johnson as Prime Minister at odds of 4/1. But with the starting pistol to the race only just fired, it's a rapidly changing picture.
Just this morning Penny Mordaunt was favourite at 9/2 with Sunak at 13/2. According to Oddschecker which analyses all the bookies odds, her best odds are currently 5/1 on William Hill.
Read more: Boris Johnson has agreed to step down as Prime Minister and will resign
Also among the runners at the head of the race is Defence Secretary Ben Wallace who has always done well in Cabinet popularity polls with Tory members and is joint second favourite at 5/1 best odds on William Hill.
Also at 5/1 with William Hill is Deputy Prime Minister Dominic Raab whose odds shortened quickly this morning from 14/1 at one stage. Former Health Secretary Sajid Javid who resigned within minutes of Sunak on Tuesday is next at 7/1 alongside Foreign Secretary Liz Truss then Chancellor Nadhim Zahawi at 8/1.
The man who Boris Johnson beat to become Prime Minister, Jeremy Hunt, is more of a longshot at 11/1. And there's bad news for Attorney General Suella Braverman, who on Wednesday night urged Johnson to quit and said she'd throw her hat in the ring once the leadership contest began.
Her odds were 40-1, the same as former Prime Minister Theresa May who this morning the Daily Mail quoted Tory sources as saying that she could be lined up to take over as Caretaker PM once Johnson went. Not according to the bookies.
Next Prime Ministers - best odds according to Oddschecker
Rishi Sunak - 4/1
Penny Mordaunt - 5/1
Ben Wallace - 5/1
Dominic Raab - 5/1
Liz Truss - 7/1
Sajid Javid - 7/1
Nadhim Zahawi - 8/1
Jeremy Hunt - 11/1
Tom Tugendhat - 14/1
Miochael Gove - 16/1
Suella Braverman - 40/1
Theresa May - 40/1
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