Mr Blair's possible departure is becoming less profitable

William Hill is offering odds of 13-8 that Mr Blair will stand down compared to 14-1 on Thursday.

The odds of Mr Blair leading his party in the next general election in 2005 now stand at 4-9.

The premier's possible demise has attracted more money than a British victory at the Eurovision Song Contest.

A spokesman for William Hill said: "Cash poured in for him to quit. Now we are down to 13-8 and still taking three-figure bets for him to go."

He added that the punters' decision not to place too much money on the British Eurovision entry James Fox, a former Fame Academy pupil, had proved "good judgement" because anyone betting on him had lost their money.

"They still have a chance to win one way or another with Blair."

Chancellor Gordon Brown's chances of succeeding the premier were at 4-7, while Foreign Secretary Jack Straw becoming Labour's next leader was on at 10-1.