Succession Betting Odds: Logan Roy's Death Reshuffles The Deck For Waystar Royco's Next CEO, Lukas Matsson The Favorite At -150

The shocking death of Logan Roy at 40,000 feet was a twist that most Succession fans were bracing for at the end of the season, but certainly not during an episode titled "Connor's Wedding." What started as a continuation of Logan's masterclass in manipulation, namely of his son Roman, ended with a series of tearful goodbyes from his children over the phone. But even with the emotional body blows coming left and right for the main characters, the understanding that everything will soon change wasn't lost on any of them. Kendall was quick to rally Roman and Shiv, trying to remain quasi-rational as members of Logan's team began to draw up a statement about his death. Before being pronounced dead by a doctor, the market implication began to take center stage. And while the episode spanned just a few hours of real-time, we're now miles away from where the story started at the beginning of episode three. 

Who will be the head of Waystar Royco by the end of Season 4?

Sportsbooks now view the battle to become the next CEO differently this week as they did in the previous weeks. Lukas Matsson has taken the role of favorite, but all three Roy children have vaulted into the contender category. Gerri Kellman has an opportunity to be taken seriously while stepping out from Logan's shadow and Tom Wamsgans is in damage control mode with his "defender" now out of the picture. The shakeup to the odds is as telling as the panicked meetings between the Roy children and Logan's inner circle on the private plane in episode three.

The preview for episode four of the final season of Succession makes it clear that there's blood in the water and sharks are circling. Can the old guard of Gerri, Karl and Frank find a way to install one of them as CEO, even on an interim basis? Can the Roys band together and nominate a true successor to their father or will they continue to fight among themselves for the crown? And then there's Tom, who appears to be in the worst position of all. He has neither Logan's support nor his wife's and there are still loose ends related to the Cruise division controversy that could land him in prison. Long shots like Greg and Connor stayed relatively flat week-over-week, but I wouldn't be shocked if they play a supporting role in someone's decision making process down the stretch. Greg remains Tom's right hand man, and Connor's presidential run adds a layer of complexity to ATN holdings for whoever becomes the next CEO. 

We'll be updating the odds next week and expect major movement at the top, particularly around Matsson. If his deal goes through with the board, he's a virtual lock to become the CEO, but if there are any complications or delays his odds could plummet by the end of episode four.