Brexit-backing Conservative MP Jacob Rees-Mogg has become a surprise favourite to lead his party and be appointed prime minister in the wake of the general election.

The Old Etonian, 48, has seen a flurry of small bets in his favour over the past few weeks as the birth of his six child, Sixtus Dominic Boniface Christopher, and high-profile media appearances, such as the BBC's Question Time show, keep him in the spotlight.

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Matthew Shaddick, head of political betting at Ladbrokes, told IBTimes UK that his firm would be forced to pay out around £20,000 ($25,746) if Rees-Mogg enters Number 10.

"There's been a steady stream of smallish bets," he said. "He's been in the media a lot, he's obviously a fluent, very good performer."

"It's only been in the last sort of six weeks or so that people have been really getting [behind Rees-Mogg]."

Shaddick added: "On the other side, it's been noticeable that no one wants to back Boris Johnson, at least not over the last two to three months. Not since the election when he was favourite to be next Tory leader."

Ladbrokes currently have Rees-Mogg at 16/1 (or 5.9% implied probability) to become next Conservative leader, with Brexit Secretary David Davis favourite at 7/2 (22%), Remain-supporting Chancellor Philip Hammond on 5/1, Foreign Secretary Boris Johnson on 8/1 (11%) and Home Secretary Amber Rudd on 10/1 (9%).

The bookmaker has another market on the next prime minister, which includes Labour leader Jeremy Corbyn at 3/1 (25%) and has Rees-Mogg at 20/1 (4.7%).

Betfair has also seen a surge of bets for Rees-Mogg over the last two weeks, with his opening price dropping from 50/1 to 10/1. "[It] Looks like it's off the back of a strong Brexit/decoupling policy," a spokesperson for the firm told IBTimes UK.

But it does not look like May is leaving or being pushed from Number 10 any time soon, with Justice Secretary David Lidington blaming such rumours on "'warm Prosecco". Rees-Mogg, meanwhile, is hoping to become the next chairman of the influential cross-party Treasury Select Committee.

The Oxford University educated investment fund manager is up against former Education Secretary Nicky Morgan, amongst other candidates.