Bookmakers gives odds for Brown's successor.
Bookmakers have revealed the latest odds for who the next leader of the Labour party will be following Gordon Brown's decision to stand down.William Hill has installed David Miliband as the 4/7 favourite to succeed Mr Brown.
Other politicians in contention for the role include Alistair Darling who is offered at odds of 8/1, Ed Miliband at 11/1 and Peter Mandelson who is 14/1.
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"The political punters have been waiting for this race to come under orders for some time, and they have already begun placing substantial bets - we have taken a £2500 wager for David Miliband, which is unlikely to be the biggest we take," said William Hill's spokesman Graham Sharpe.
He added up to £1 million is set to be gambled on the event, providing it does not become a one horse race.
Meanwhile, optimistic punters could have a bet on Tony Blair to return to the Labour hotseat, which is offered at 100/1.
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