Is Olly Murs replacing Dermot O’Leary as The X Factor host?

We’re still drying our tears after hearing the sad news that Dermot O’Leary is leaving The X Factor after eight years on the show.

But our moods have lifted slightly after learning of his possible replacement – Olly Murs is being tipped as the new host.

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Olly finished in second place on the programme in 2009 and even presented The Xtra Factor alongside Caroline Flack for two years, so he’s certainly well placed to join the series.

Bookies William Hill says Olly is is the 7/2 favourite to replace Dermot with Emma Willis and Rylan Clark the 6/1 joint second faves.

A spokesperson for the bookmakers said: “Despite his diminutive stature, Dermot has left some pretty big shoes to fill and it will have to be a major name to come in. That is why we have Olly as favourite.”

Derm broke the news he was leaving the ITV talent contest this afternoon on Twitter.

He wrote: “After eight wonderful years on The X Factor it’s time for me to move on.

“I’d like to thank ITV, Simon [Cowell], The X Factor and particularly the viewers, all of whom have been a big part of my life for so long.

“I’d like to wish the team all the best for the future, especially whoever takes over from me. You’re about to be the conductor on the most brilliant, runaway train in showbiz. Good luck you’ll love it!”

We’ll miss you, Dermot!