Bookmakers cut odds on BP's Tony Hayward quitting this year

Bookmakers have cut the odds on Tony Hayward being forced out of BP this year because of his handling of the Gulf of Mexico oil spill. Paddy Power said today that it now believes there is a greater chance of Hayward losing his job than clinging on until 2011, following President Obama's comments last night that he would have fired the BP chief executive . The betting company cut the odds of Hayward quitting this year to 1/2, from 5/6 on Tuesday, and said it has taken 250 wagers on Hayward departing, compared with just 10 on him lasting until 2011. "You know your luck is definitely out when the president of the US reckons you should be fired," it said. "Our betting now reflects a clear shift towards Hayward being out of a job by the end of the year." Ladbrokes also cut its odds on Hayward stepping down in 2010, to 2/1 from 5/1. "Despite the crisis we initially thought that Mr Hayward was safe, in the short term at least. But President Obama's recent comments have done him no favours," said Ladbrokes spokesman Nick Weinberg. Paddy Power is offering 6/4 that Hayward will keep his job, which suggests that punters could make a guaranteed profit by taking this bet while at the same time placing a wager with Ladbrokes on Hayward's imminent departure. Hayward has been criticised for a series of gaffes since the crisis began, including saying that he wanted his life back – even though 11 crewmen had died in the explosion on the Deepwater Horizon rig – and telling the Guardian that the amount of oil and dispersant chemicals released were "tiny" compared to the size of the Gulf of Mexico. Paddy Power has BP's group managing director Iain Conn, who heads the refining and marketing operations, as the favourite to replace Hayward, at 3-1. Second favourite, at 7-2, is Lord Browne, Hayward's predecessor, who was forced to resign after lying about his private life . Chairman Carl-Henric Svanberg, who has been criticised for not taking a more public role in the clean-up operation, is available at 10-1. The latest odds were released as US politicians piled more pressure on BP over the Deepwater Horizon disaster , with new legislation expected to be rushed through Congress over the next two months.