How bets on July election SURGED hours before Rishi Sunak's announcement - as PM says he is 'incredibly angry' top Tories are engulfed in scandal with fears more names could still come out

The Tories are braced for more betting revelations today after it emerged there was an extraordinary spike in punts on a July election the day before Rishi Sunak announced the news.

Westminster was widely shocked by the PM's bold move to go to the polls this summer, with expectations that he would wait until the Autumn.

However, analysis of figures from Betfair - the world's largest online betting exchange - showed almost £3,000 was gambled in a just few hours on May 21.

That morning the implied odds of a July election was around one in eight. 

Mr Sunak admitted he is 'incredibly angry' last night after the bombshell that the gambling watchdog is investigating several senior Conservatives.

The party's director of campaigning, Tony Lee, took a leave of absence yesterday, with he and his Tory candidate wife, Laura Saunders, both under investigation.

Mr Sunak's close parliamentary aide Craig Williams is also being investigated for betting £100 on the date at odds of 5/1. Earlier this week, one of the PM's police protection officers was arrested over betting claims.

Ms Saunders said she was 'cooperating with the Gambling Commission'. It is not known how much her bet was for or when she placed it. 

However, Welsh Secretary David Davies admitted this morning that he did not know if there were more claims to come, while a gambling industry insider told Sky News: 'Yes to more names [coming out].'

Appearing on the BBC's Question Time election special last night, Mr Sunak was grilled on the claims.

'I was incredibly angry to learn of these allegations. If anyone's found to have broken the rules, not only should they face the full consequences of the law, I'll make sure they are booted out of the Conservative Party,' he said. 

Former Tory leader Sir Iain Duncan Smith branded those involved as 'stupid and venal'.

Reform leader Nigel Farage accused the Conservatives of being 'corrupt'.

Cabinet minister Michael Gove admitted the situation 'doesn't look great' for the Conservatives, adding: 'Obviously, the conclusions lots of people are drawing are not at all great. 

'The Gambling Commission are looking at Craig and also looking at Laura, and we'll see what the conclusions are.' The BBC reported that the gambling regulator was also looking into Mr Lee.

Labour called for the Tories to suspend Ms Saunders and Mr Williams, with Keir Starmer saying: 'If it was one of my candidates, they'd be gone and their feet would not have touched the floor.'

Tim Montgomerie, founder of grassroots website Conservative Home and a long-time critic of Mr Sunak, told Times Radio: 'Conservative members and activists are shell-shocked. 

'It's almost like every time we get up from the last knock to our morale, something else knocks us down. And I've had three members say they've decided enough is enough today – they've resigned.'

In a statement released on Ms Saunders' behalf, Nama Zarroug, a solicitor at Astraea Linskills, said: 'As the Conservative Party has already stated, investigations are ongoing.

'Ms Saunders will be co-operating with the Gambling Commission and has nothing further to add.

'It is inappropriate to conduct any investigation of this kind via the media, and doing so risks jeopardising the work of the Gambling Commission and the integrity of its investigation.

'The publication of the BBC's story is premature and is a clear infringement of Ms Saunders' privacy rights.

'She is considering legal action against the BBC and any other publishers who infringe her privacy rights.'

Mr Williams is also being investigated after putting a £100 bet on the election being held in July, just days before the PM announced the July 4 vote. The 5-1 flutter would have netted him £500.

The issue with those with close connections to the PM placing a bet on the election date comes with the individual having possible inside information that could give them an advantage. 

It has not been confirmed whether Ms Saunders had any inside information when allegedly placing the bet. 

The use of confidential information to gain unfair advantage when betting may constitute a criminal offence of cheating under section 42 of the Gambling Act.

Those convicted face and unlimited fine or up to two years in jail.  

The Conservative Party said: 'As the Gambling Commission is an independent body, it wouldn't be proper to comment further, until any process is concluded.' 

The commission said: 'We are not confirming or denying the identity of any individuals involved in this investigation.'