Jacob Rees-Mogg is in serious contention to become the next leader of the Conservative party, according to the latest betting trends.

The MP for North East Somerset has become somewhat of an Instagram star and seems to have put himself in contention for the top position if it is vacated by Theresa May.

The eccentric Eurosceptic toff is a hit with a group of young Conservatives led by 23-year-old Sam Frost from London, who has set up a petition for Rees-Mogg to be next Conservative leader.

“I don’t see why he doesn’t run, he could be just as popular as Jeremy Corbyn with young people,” says Frost. With over 13,000 signatures the crowdfunding campaign reached its target £2,000 in just two days.

Not that Jacob Rees-Mogg is short of cash. When his wife, the daughter of the aristocrat Somerset de Chair comes into her inheritance the couple will have a net worth of over £100 million, and city fund manager Jacob who started trading shares as a teen, made his first million before going to University.

It’s rather ironic that a man who has been described as “coming straight of 1923” has become flavour of the month in the digital world. However, his increased popularity and airtime has had a significant impact on his odds to take charge of the Conservative party. At the beginning of the week he was 50/1 with one bookmaker to replace May, but now he has been backed into as short as 16/1 (33/1 best odds).

It’s not just those in the betting industry getting caught up in the Rees-Mogg whirlwind, the punters are also jumping on the JRM bandwagon. This month he has accounted for 34.76% of bets in the market, almost five times more than any other candidate.

Oddschecker spokesman, Sam Eaton “His growing popularity was bound to affect his chances of becoming the top-dog in the Conservative party. He is still only 9th favourite to replace May so we aren’t getting too carried away but we do expect these odds to continue to shorten with every quirky Instagram post. Jacob Rees-Mogg has even been installed as 33/1 to become the next Prime Minister, just imagine that…”