Next Labour Leader Odds Pointing to David Miliband

With Gordon Brown announcing that his time as leader of the Labour Party has come to an end, the next thing on everybody’s mind is who’s next?

The betting markets are strongly pointing to David Miliband- who is listed at some very interesting prices on the exchanges and the fixed-odds markets.

Top UK bookmakers have priced Miliband at a 4/7 price to be named the next Labour Leader. The Secretary of State for Foreign and Commonwealth Affairs will likely be looking for a new full-time gig once David Cameron’s Conservative Party move into power. He’s been in pole position for this one for quite a while and only faces competition from a few other contenders- although lots of names are on the list.

David Miliband trades for a 1.83 price amidst increasing volume.

The only real potential competitors to David Miliband include Chairman of the Exchequer Alistair Darling who is trading at an 8/1 price as the most plausible challenger. He certainly boasts the pedigree and political training, but you get the feeling that David Miliband is a bit more politically popular and has the support of Party insiders. Darling carries a price of 13.0.

Alan Johnson can be backed at 10/1 while Ed Balls is trading at a 12/1 price.

Interestingly enough, David Miliband’s brother Ed Miliband can be backed at an 11/1 price to be named the next Labour Leader. It appears as if David Miliband is the likely selection here, and it may take some form of late-breaking scandal to keep him from being named Next Labour Leader.