Rishi Sunak hop, skip and a jump away from UK PM post. Odds say…

Rishi Sunak: Indian-origin Rishi Sunak could be announced as prime minister within hours.

Indian-origin Rishi Sunak is just a hop, skip and a jump away from becoming the next UK prime minister on Monday. If bookmakers are to be believed, Rishi Sunak is pretty much the next prime minister of the country and is set to replace Liz Truss.

Rishi Sunak: Britain's Conservative MP Rishi Sunak leaves his home address in London. (Reuters)

Odds show that Rishi Sunak has a 96% chance of becoming the UK's prime minister while his competitor Penny Mordaunt is at 4%. The change happened as soon as Boris Johnson announced that he will not be running for the position late last night.

Rishi Sunak could be announced as prime minister within hours while Penny Mordaunt is reported to be scrambling to get 100 backers among Tory MPs.

Announcing that he will not enter the race, Boris Johnson said, “There is a very good chance that I would be successful in the election with Conservative Party members - and that I could indeed be back in Downing Street on Friday.”