Rory Stewart has seen the odds on him winning the Tory leadership race slashed after making huge gains in the second round of voting.
Despite coming fourth overall, Mr Stewart gained 18 votes between rounds – the most out of any candidate.
Winner Boris Johnson gained 12 votes, from 114 to 126, while fifth place Sajid Javid moved from 23 to 33, up by ten.
Third place Michael Gove gained four votes, while runner-up Jeremy Hunt ended on 46.
Having previously had odds of 12/1 to become the next Prime Minister, the bookies are now offering 8/1 on Mr Stewart.
Favourite Mr Johnson is now listed as 1/7, with Mr Hunt on 16/1, Mr Gove on 33/1 and Mr Javid on 66/1.
Dominic Raab was eliminated in Tuesday’s vote after failing to achieve 33 votes, the necessary threshold. He lost out with 30.
The remaining candidates will take part in a live BBC debate in central London on Tuesday night.
They will face further votes on Wednesday and Thursday, which will whittle the field down to a final two.
The final phase will see some 160,000 party members choosing the next prime minister.
Next Tory leader odds, from Betfair
Boris Johnson 1/7
Rory Stewart 8/1
Jeremy Hunt 16/1
Michael Gove 33/1
Sajid Javid 66/1