Keir Starmer has been touted as the early favourite to replace Labour leader Jeremy Corbyn.
Mr Corbyn saw a disastrous election night wipe out any hopes of a hung parliament as Labour lost a number of former strongholds as Conservative candidates ate into their vote.
According to Oddschecker Starmer is the bookies’ 2/1 favourite, indicating he has an 33.3% chance of taking over as the most senior member of the Labour Party.
He’s also the most backed in the market since the polls closed, with 61% of all bets in the market backing the MP for Holborn and St Pancras.
Elsewhere, Rebecca Long-Bailey is the second favourite in the race to replace Corbyn, currently only a touch longer odds than Starmer at 7/2.
Angela Rayner is the third favourite at10/1, followed by Yvette Cooper at 14/1 and Emily Thornberry at 17/1.
Before she lost her seat Laura Pidcock was pegged at 18/1, followed by shadow chancellor John McDonnell with odds of 20/1.
In the North East Labour lost Blyth Valley, Sedgefield, Bishop Auckland, North West Durham, Redcar, Stockton South and Darlington.
Speaking after winning his Islington North seat for the tenth time he said: "I want to also make it clear that I will not lead the party in any future general election campaign," he said as he accepted victory in his Islington North constituency.
"I will discuss with our party to ensure there is a process now of reflection on this result and on the policies that the party will take going forward.
"And I will lead the party during that period to ensure that discussion takes place and we move on into the future."
