This is who bookmakers think will replace Liz Truss (and when)

Bookmakers are already stacking the odds against Liz Truss' premiership leading some to believe the newest Prime Minister may be out of a job soon.

On Friday, Truss unexpectedly fired Kwasi Kwarteng, Chancellor of Exchequer, following backlash over her and Kwarteng's mini-budget plan that sent the UK economy into a spiral.

Now, people are betting Truss too will be out of a job in a matter of time.

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British gambling company William Hill has already determined the odds of Truss leaving and who is most likely to take over the Prime Minister's role.

In a press release, William Hill said "Truss just 5/4 to leave her role before 2023" which is down from 11/2 the previous day.

"Truss' Conservative leadership rival Rishi Sunak has been backed into 2/1 to become the next Tory Party leader, ahead of Peny Mordaunt (5/1)," the press release continued.

"Our markets suggest its now doubtful whether Truss will remain as Prime Minster by 1st January next year," William Hill spokesperson Tony Kenny said.

The bookmakers also indicated the new Chancellor of Exchequer Jeremy Hunt is 7/1 to become the next PM closely followed by Kemi Badenoch (8/1).

Other bookmakers are also jumping in on the fun by creating Liz Truss Premiership bets.

According to Bloomberg, Coral has placed odds of 13/5 of Truss being replaced this year. Sky Bet places Sunak as a replacement at 2/1 followed by Keir Starmer with 3/1.

Betfair 'slashed' the odds of Truss stepping down from 20/21 to 3/1 on Friday.

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