Royal Ascot has fewer runners than the Tory Leadership race. I quote the odds being offered by the bookies on the dozen front runners.
David Davis 8/11
David Cameron 6/1
Kenneth Clarke 9/1
Malcolm Rifkind 10/1
William Hague 12/1
Andrew Lansley 14/1
Liam Fox 14/1
Tim Yeo 16 / 1
Alan Duncan 20 / 1
Theresa May 50 / 1
Damian Green 50 / 1
John Redwood 50 / 1
Guido is betting on Betfair against runners that are hopeless and on others whose odds are a little too long. Guido laid Rifkind @ 14 / 1 and backed Alan Duncan @ 40 / 1. For those of you who don’t know about Betfair its a two-way betting exchange where you can lay (short, bet against) as well as back horses leaders. It means you can trade in and out as their odds move on the news. So I could now buy back Rifkind @ 14 /1 and lay Alan Duncan if his price shortens to lock in a profit. Guido thinks Clarke is worth laying, Hague too, although a strong candidate, he is on the same turf as Basher Davis
Theresa May has refused to rule herself out – but Guido will, the same goes for Green and Redwood. As for Lansley, Yeo and Duncan, well, you never know I suppose…
