Labour leader Jeremy Corbyn is favourite to become the next prime minister, according to British bookmakers.

Both Betfair and Paddy Power have shorter odds on the Labour leader becoming prime minister than any Conservative candidate.

Mr Corbyn is 6/1 to succeed Theresa May at No 10 – ahead of leading Tory figures including Boris Johnson on 13/2, Michael Gove on 7/1 and Jeremy Hunt at 11/1, according to Oddschecker, which compiles odds from all the leading bookies.

It follows a tumultuous 48 hours at Westminster, with Ms May’s Wednesday night Brexit speech attacking parliament causing intense anger among MPs.

Sir Graham Brady, the chairman of her party’s influential 1922 committee, has reportedly told Ms May that many Tory MPs want her to quit after he was “bombarded with text messages”.

Who could succeed Theresa May as Conservative leader? Show all 9 1 /9 Who could succeed Theresa May as Conservative leader? Who could succeed Theresa May as Conservative leader? Boris Johnson Former foreign secretary Boris Johnson has long been hopeful, he previously stood in the leadership contest that followed the Brexit vote and has at many times since been thought to be maneuvering himself towards the goal. He remains a darling of the party's right wing, particularly those in the ERG, and is the most popular choice among Tory voters but his leadership bid would be fiercely opposed by many MPs PA Who could succeed Theresa May as Conservative leader? Michael Gove Environment secretary Michael Gove is another member who has long wanted to be leader. He has lately been known for rousing his party in the commons, his recent speeches on the Brexit deal and Labour's no confidence motion have overshadowed the Prime Minister's. He has been loyal to the Prime Minister, partly to shed his reputation as a backstabber who abandoned Boris Johnson to stand against him in the 2016 leadership election Getty Who could succeed Theresa May as Conservative leader? Dominic Raab Former Brexit secretary Dominic Raab has emerged as a favourite to be the Brexiteer candidate in a contest to succeed to Ms May. He displayed a grip on detail in his role as Brexit secretary. When asked recently if he would like to become prime minister he replied "never say never" Getty Who could succeed Theresa May as Conservative leader? Rory Stewart International development secretary Rory Stewart is pitching himself as the sensible candidate, promising to rule out both a second referendum and a no-deal Brexit. He was only recently promoted to the cabinet, previously serving as prisons minister, where he caught headlines with a pledge to resign if he could not reduce levels of violence within a year PA Who could succeed Theresa May as Conservative leader? Esther McVey The former work and pensions secretary announced that she will be standing for the leadership when May leaves. McVey is the first to explicitly state that she intends to stand. She resigned from the cabinet in protest over May's Brexit deal AFP/Getty Who could succeed Theresa May as Conservative leader? Sajid Javid Home secretary Sajid Javid is said to have a plan in place for a leadership race. He made headlines over Christmas when he declared that people smuggling over the English channel was a "major incident" and more recently when he revoked the citizenship of ISIS bride Shamima Begum. Son of a bus driver, he wants the Conservatives to be seen as the party of social mobility PA Who could succeed Theresa May as Conservative leader? Jeremy Hunt Foreign secretary Jeremy Hunt was recently thought to be the favourite in the event of a leadership race as he could sell himself as the man to unite the party. Critics worry that his long stint as health secretary could return to haunt him at a general election. He has reportedly been holding meetings with Tory MPs over breakfast to promote his leadership PA Who could succeed Theresa May as Conservative leader? Andrea Leadsom Following the Prime Minister's second defeat over her Brexit deal, Leader of the house Andrea Leadsom hosted a dinner party at which "leadership was the only topic of conversation", The Times heard. Leadsom ran against Theresa May in the 2016 leadership election before dropping out, allowing May to become Prime Minister AFP/Getty Who could succeed Theresa May as Conservative leader? Priti Patel Former international development secretary Priti Patel is thought to be positioning herself as a contender. One MP told The Independent "she knows she's from the right of the party, the part which is going to choose the next leader, so she's reminding everyone she's there." Patel left the government late in 2017 after it emerged that she had held undisclosed meetings with Israeli officials PA

The prime minister is facing a third Commons defeat on her deal next week, and a rift has reportedly opened up between No10 and Chief Whip Julian Smith’s office over her handling of Brexit.

With the government in turmoil, the odds of general election taking place this year have been slashed, with Ladbrokes putting the chances at 5/4. The month of May – at 5/2 – is deemed the most likely time it could take place.

Jessica Bridge of Ladbrokes said: “If the odds are to be believed, May’s speech doesn’t seem to have done the trick.”

The odds of Ms May being replaced at No.10 this year have been cut by Ladbrokes to 1/6. “As far as the odds are concerned things are going from bad to worse for the prime minister,” Ms Bridge added.

Betfair has the Labour leader as 4/1 favourite to be the next prime minister, compared with 6/1 odds for Mr Johnson, while William Hill has Mr Gove as 4/1 favourite ahead of Mr Corbyn and Mr Johnson on 5/1.

Jeremy Corbyn and Keir Starmer leave the European Commission headquarters in Brussels after a meeting (Reuters)

Although Ms May won a Conservative party no-confidence vote in December, preventing her opponents from bringing the formal process again until the end of 2019, Tory MPs could put pressure on her to resign.

Another route to Ms May’s exit comes from the opposition. The Labour leader has threatened to call a fresh confidence vote in the government if Ms May’s deal fails to pass the Commons a third time – although such a move is unlikely to win backing from Tory MPs.

“At that point the confidence motion would be appropriate,” Mr Corbyn told Sky News’ Sophy Ridge on Sunday ahead of another meaningful vote. “I think at that point we should say there has to be a general election.”

Editor of The Spectator Fraser Nelson has suggested an offer by Ms May to stand down soon might be enough to get her deal through, describing resignation as “her most powerful card”.