Irish politics: Varadkar surges in Taoiseach betting after TV address

Paddy Power has cut Leo Varadkar from 2/1 into 6/4 to be next Taoiseach of Ireland after last night’s televised address to the nation.

The Fine Gael leader currently retains his role as caretaker Taoiseach, having resigned from his position last month after the Irish general election.

“We have witnessed a significant surge support for Leo Varadkar in recent days, but the groundswell of support for the Fianna Gael leader intensified greatly overnight,” spokesman Paddy Power confirmed.

The change in odds on Varadkar means he now has a 40 per cent chance of being re-elected as the next Taoiseach of Ireland.

However, Fianna Fail’s Micheal Martin is holding on to his position as favourite, despite drifting from an initial price of 1/3, (a 75 per cent likelihood of being elected) out to odds of 1/2.

At the current price, Martin’s chances of being the next Taoiseach remain strong at 67 per cent, according to Paddy Power.

Meanwhile, the likelihood of Ireland having its first female Taoiseach is looking progressively slim, with Sinn Fein’s Mary Lou McDonald now considered an outsider for the role (20/1).

Green Party leader Eamon Ryan and Fianna Fail’s Finance spokesman Micheal McGrath are both 66/1, followed by John McGuiness (80/1) also of Fianna Fail, who brings up the rear in sixth position.