Mr Mogg now has the best odds of all the runners gunning for the top job after a fortnight of chaos for the Tories over Brexit.
Bookies revealed he has taken over as favourite to replace Mrs May as the next Tory leader – with odds of 5/1.
Predictions of a General Election in 2018 or 2019 at now also sitting at 7/2 and 15/8, according to odds by Ladbrokes.
And things arent looking good for Mrs May as odds of her being replaced as PM sit at 6/5.
Labour leader Jeremy Corbyn narrowly edges Mogg as favourite to be the next Prime Minister, with 5/1 marginally edging the Torys 11/2.
Philip Davies, MP for Shipley, triggered more woe for the PM today as he publicly filed a letter of no confidence against May.
GETTY
PRIME MINISTER: Is Jacob Rees-Mogg the next Tory leader in waiting?
Brexit CHAOS: The Cabinet members ousted since the snap election
Prime Minister Theresa May has faced a series of Cabinet members leaving their positions since last June's snap election
REUTERS
Boris Johnson is the latest minister to quit since snap election
“My strong ambition is that Brexit should be delivered and delivered properly ”
Mogg
Mogg, the MP for North East Somerset, is popular amongst the hard-right of the Conservative party who have criticised Mrs Mays so-called Chequers agreement.
The plan for Britains exit from the EU was thrashed out two weeks ago, and thrown into disarray by the resignations of Boris Johnson and David Davis.
It was even criticised by US President Donald Trump – before he rowed back in a press conference with the PM.
Conservative remain supporter Anna Soubry MP even claimed Mogg is already “running the country”.
GETTY
JEREMY CORBYN: Labour leader Jez pips Jacob Rees-Mogg as favourite to be PM
GETTY
THERESA MAY: Jacob Rees-Mogg has been critical of the PM's vision on Brexit
Speaking this week, Mogg said: “My strong ambition is that Brexit should be delivered and delivered properly and delivered in line with the commitments the Conservative Party has given.
“I dont decry all ambition, but my ambition is for one of the most important policy changes in the countrys modern history which I think will be of enormous benefit to us.
“Thats an ambition. I am more than happy to run up the flagpole so to speak.
“But, it is not about me personally. Its about ensuring the right policy comes through.”
Odds on next Prime Minister REVEALED
Who will be the next Prime Minister if Theresa May loses a confidence vote?
Getty Images
British Prime Minister Theresa May to leave post this year – 1/2
Mogg leads the race amongst the Tories, with environment secretary Michael Gove coming in second at 6/1.
Home secretary Sajid Javid – who was once the favourite – has fallen to odds of 7/1.
Mrs Mays nemesis Boris Johnson comes in at 8/1, just edging out his replacement as foreign secretary Jeremy Hunt at 10/1.
Andrea Leadsom and new brexit secretary Dominic Raab are the outsiders at 14/1 and 16/1.
Related videos
Tory officials need to receive 48 letters of no confidence against Mrs May to trigger a leadership election.
The Prime Minister has already pledged she would fight on against a leadership challenge.
Mrs Mays leadership has been in peril since her meeting at Chequers, with numerous Tories breaking ranks to criticise her in the Commons.
Yesterday, Mr Johnson used his resignation speech to blast the PM over Brexit claiming the government was lost in the fog.
Related articles
