Owen Smith the new favourite to be the next Labour leader

Owen Smith is the evens favourite with leading bookmaker Coral to be the next Labour leader after the firm saw a sustained gamble on the Pontypridd MP since he announced he was standing for the party leadership.  Smith was 3-1 with Coral just 24 hours ago but his odds soon shortened following a flurry of bets. Angela Eagle is now out to 7-2 (from 9-4) with the firm for the role, while John McDonnell and Dan Jarvis can both be backed at 12-1 to be the next leader of the Labour Party.

Coral is odds-on at 4-6 that Jeremy Corbyn is not in charge of Labour for the next general election, while Labour are 9-4 to pick up the most seats when the next general election takes place.

“As soon as Owen Smith announced he was standing for the Labour leadership, we saw a rush of bets for him replacing Jeremy Corbyn. He’s now the clear favourite to be the next leader of the Labour Party, with Angela Eagle his nearest rival in the betting,” said Coral’s John Hill.

“Even if Jeremy Corbyn does manage to survive the latest Labour leadership election later this summer, the betting suggests he won’t be in charge of the party for the next general election,” added Hill.

**Next Labour leader

Evs Owen Smith, 7-2 Angela Eagle, 12-1 Dan Jarvis, John McDonnell, 14-1 David Miliband, Clive Lewis, 16-1 Hilary Benn, Andy Burnham, Tom Watson, 22-1 Bar

**General election – Most Seats

4-11 Conservative, 9-4 Labour, 28-1 UKIP, 33-1 Liberal Democrats, 250-1 Greens

**General election – Overall Majority

11-10 Conservative Majority, 11-8 No Overall Majority, 9-2 Labour Majority, 66-1 UKIP Majority, 80-1 Liberal Democrat Majority, 500-1 Green Party Majority

**Jeremy Corbyn not to be Labour leader for next general election