Tessa Jowell favourite to be next Mayor of London

Former Labour Culture Secretary Tessa Jowell is the favourite to become the next Mayor of London according to Ladbrokes. Upon confirmation of her commitment to run for City Hall, the bookies make the MP for Dulwich and West Norwood the 7/2 favourite for the 2016 election, from Sadiq Khan at 5/1.

Sebastian Coe has been a popular long-term bet for the election, as his odds creep down to 12/1 from 25/1 to push him ahead of Boris Johnson, who despite not ruling out a tilt at a third term is a 20/1 shot. With a number of independent candidates also rumoured to be in the running, the bookies offer 10/1 about the eventual winner not being a member of any of the major parties.

Alex Donohue of Ladbrokes said: "Jowell's position in the betting suggests she's a prime contender to be Labour's candidate for 2016. Upon confirmation of her intention to run, she has the honour of being the long-term favourite and if selected she'd be odds on to get the keys to City Hall."

Ladbrokes latest betting

2016 London mayoral election:
7/2 Tessa Jowell
5/1 Sadiq Khan
10/1 David Lammy
10/1 Alan Johnson

12/1 Sebastian Coe
16/1 Andrew Adonis
16/1 Diane Abbott
20/1 Boris Johnson
20/1 Doreen Lawrence
20/1 Michael Liebreich
20/1 Jon Cruddas
20/1 Margaret Hodge
33/1 bar

Winning party:
1/3 Labour
11/4 Conservatives
10/1 Any other
50/1 Liberal Democrats