I break betting odds news as it happens, so you’re never left behind when the market moves or a top offer lands.
- Pat McFadden 1/1 favourite to replace Rachel Reeves as Chancellor.
- Torsten Bell (7/2) and Darren Jones (7/1) follow in the betting.
- 2026 most likely year Reeves will be replaced, at 4/7 with Ladbrokes.
Reeves’ Position Under Scrutiny
As the government navigates difficult economic challenges, Rachel Reeves’ role as Chancellor of the Exchequer is under increased scrutiny and UK Betting Sites have odds on who could take over if she departs.
Political speculation has led Ladbrokes to price up both her possible replacement and when she could leave the role.
The market is led by Pat McFadden, current Secretary of State for Work and Pensions, who is seen as a steady hand and close ally of the Prime Minister.
At evens, he is the bookmakers’ clear favourite to step in should Reeves depart.
No concrete signs have been shown towards Reeves leaving her position but it would come as no surprise if it were to happen in the coming months.
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Next Chancellor of the Exchequer Odds
| Next Chancellor of the Exchequer | Odds | Implied Probability |
|---|---|---|
| Pat McFadden | 1/1 | 50.0% |
| Torsten Bell | 7/2 | 22.2% |
| Darren Jones | 7/1 | 12.5% |
| Wes Streeting | 10/1 | 9.1% |
| Anneliese Dodds | 14/1 | 6.7% |
When Will Rachel Reeves Be Replaced?
Ladbrokes’ second market suggests Reeves is most vulnerable in 2026, with odds of 4/7 indicating that year as the likeliest for a change in the Treasury.
| Year | Odds | Implied Probability |
|---|---|---|
| 2026 | 4/7 | 63.6% |
| 2025 | 6/1 | 14.3% |
| 2027 | 6/1 | 14.3% |
| 2029+ | 8/1 | 11.1% |
| 2028 | 10/1 | 9.1% |
Betting Insight
The prices reflect the twin pressures facing Reeves: the short-term challenges of managing the economy and the long-term political risks if her popularity dips further.
Torsten Bell, Parliamentary Secretary for the Treasury, is priced at 7/2.
Darren Jones (7/1) and Wes Streeting (10/1) both carry Cabinet credentials, while Anneliese Dodds (14/1) lingers as a longer shot.
What the expert says...
Where To Bet on Political Markets
Ladbrokes are offering markets on the Next Chancellor of the Exchequer as well as the timing of Reeves’ departure.
For more specials like this, check out the best political betting sites, where you’ll also find free bets and the latest offers from UK betting sites.
18+. New UK & ROI customers only . Certain deposit methods & bet types excl . Min first £10 win or E/W bet within 14 days of account reg at min odds 1/2 & get 4 x £10 free bets . Free bets valid for 7 days, stake not returned. No cashout, restrictions + T&C apply.
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