Theresa May odds-on to leave this year after crushing Brexit vote defeat

Prime Minister Theresa May is 2-5 to leave her position this year after her Brexit deal was heavily defeated in the House of Commons on Tuesday.

Labour leader Jeremy Corbyn has tabled a motion of no confidence in the Government, which will be debated on Wednesday.

Coral make Mrs May 1-50 to win the 7pm vote, and 14-1 to be defeated, but Paddy Power think there is more chance of an upset, going 1-20 for her to survive and 9-1 for a Government defeat.

The markets had strongly pointed to the Brexit proposal failing and by the time of the vote it was a 20-1 shot to pass and 1-100 to be voted down.

Just 202 MPs voted in favour and 432 against for a wide margin of 230 votes. Two hundred to 249 yes votes had been the 4-7 favourite grouping with Coral and Ladbrokes, who made 151-199 a 9-4 shot.

Spread betting firm Sporting Index had set their line on the number of Aye votes at 221-229, so sellers were in profit.

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It's 11-8 that there will be a general election in 2019 and 13-8 that there will be a second EU referendum (4-7 that there won't be another national poll on the issue).

Paddy Power go 4-1 that the UK revokes Article 50 (the intention to withdraw from the EU) before March 30 and 1-8 that it does not.

There's a big difference of opinion on whether the latest events will lead to Mrs May leaving her role as early as this month, with Coral quoting 25-1 that she leaves in January and Paddy Power offering just 2-1.

Mr Corbyn's odds to be the next Prime Minister have been cut and he is 4-1 from 11-2, with Brexiteers Boris Johnson, Sajid Javid, Jeremy Hunt and Dominic Raab all eased in the market. Tories Amber Rudd, Michael Gove and Penny Mordaunt have been supported, with Labour's Yvette Cooper also shortening.

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