An online bookmaker is offering odds of 4 to 1 that Tony Blair will turn to journalism when he quits Downing Street next month, according to a report on the UK Press Gazette's website.

Blair announced earlier today that he would be standing down as prime minister on 27 June, prompting a flurry of bets on what he will do next.

According to betting website, the departing prime minister is hotly tipped to carry out a motivational speaking tour of the US (with odds of 2-1).

Odds of 4-1 are being offered that Blair will write a weekly column for a national newspaper, following in the footsteps of former education secretary David Blunkett, whose weekly column in The Sun is reported to bring in around £150,000 a year.

Click here to read the full report, posted on the Press Gazette's website.