With much of his party on the verge of open revolt as Britain’s referendum on EU membership nears, David Cameron felt the need this weekend to stress that if the country votes to leave against what are now obviously his wishes, rather than resign, he would try and make it work.

We don’t know the exact date of the referendum yet but many suspect it will be this summer. Whether 2016 or 2017, the issue will dominate UK politics in the months ahead, and has profound implications for the race to succeed Cameron as Conservative Party Leader. Given that he’s already said he won’t run again in 2020, this is effectively a contest to be Next Prime Minister.

When I last wrote about this in March, tipping George Osborne at [9.4], it was far from certain that either man would still be in government now. As it turned out, a famous, against-the-odds election win worked wonders for this supreme strategist and he’s been red-hot on the Betfair market ever since.

The chancellor is now [2.94] favourite to succeed his long-term friend and ally, with punters assuming his strategic brain and stewardship of the economy mean he’s the darling of MPs and the Tory members who will ultimately decide. My advice, however, is to bank the profit and switch horses. Fast!

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