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15 December 2016, 15:42 | Updated: 15 December 2016, 15:44
Bookmakers William Hill will donate the money staked on the Jo Cox single being Christmas number one to charity.
MPs praised the move and urged other bookies to do the same for the special recording of The Rolling Stones' hit You Can't Always Get What You Want.
Sir Mick Jagger and Keith Richards have both waived their rights to royalties from the release, while the money raised through VAT on the sales will also go to charities she supported.
Labour MP Kevin Brennan (Cardiff West), who plays guitar in the parliamentary rock group behind the track, MP4, praised the bookies' generosity.
Speaking during Commons business questions, he also called for a debate in the Commons in tribute to the murdered MP and her maiden speech, in which she spoke of how "we are far more united and have far more in common with each other than things that divide us''.
Mr Brennan said: "Instead of the traditional adjournment debate, perhaps the Tuesday debate could be on a substantive motion in tribute to our fallen colleague Jo Cox, that this House believes we have more in common that that which divides us.
"And if we did have such a debate it would enable us to highlight wonderful gestures like William Hill, the bookmakers, have made this morning around the Friends of Jo Cox single in saying they will donate all the money staked on it becoming Christmas number one, and in addition make a #5,000 donation to the Jo Cox Foundation.
"Does the leader agree that it would be a wonderful gesture if all the other bookmakers matched William Hill's generosity?''
In her maiden speech, Ms Cox spoke of how "we are far more united and have far more in common with each other than things that divide us''.
Commons leader David Lidington said: "I'd like to pay tribute to the action that William Hill has taken, it sounds to me that they have set a precedent that others might indeed wish to look at closely.''
Pete Wishart, the SNP's Commons leader, who plays keyboard in the band, said the group are grateful for the support they have received from their fellow MPs.
He said: "I'm sure the Leader of the House would also like to join me in thanking Sir Mick Jagger and Keith Richards for waiving their royalties to their piece of You Can't Always Get What You Want, ensuring that even more money goes to the Jo Cox Foundation.''
William Hill spokesman Rupert Adams said: "The song has been very well received, it is both a good song and a very worthy charity and on paper it looks unstoppable.
"We will be donating any profits from this market to the Jo Cox Foundation.''