Brexit odds fall following flurry of bets for Leave outcome
The odds of Britain voting to leave the European Union have tumbled following a frenzied period of Referendum betting.
Recent patterns have seen trade brisk on both sides of the equation although a greater number of individual bets – some as large as £1,000 – coupled with a movement in polling saw the odds of Brexit clipped to 3/1 (from 4/1).
Our Brexit Barometer has swung to reflect the latest market moves with the chances of Britain leaving the EU now rated as a 23 per cent likelihood.
However, Remain is still the clear favourite at 2/9 (77 per cent chance) with those slightly longer odds particularly appealing to one London based political punter who staked £5,000 on Britain voting to stay within the EU.
Alex Donohue of Ladbrokes said: “It’s been a busy day on both sides of the coin but the sheer volume of bets for Brexit coupled with the latest poll movement meant we had to reduce the odds of a Leave outcome. There has been a noticeable turnover spike in the last few days so it’s clear the large-staking speculators in both camps are coming out to play.”
With just over three weeks until polling day there’s bound to be plenty more movement in the EU Referendum markets, as well as interest in the wider ramifications of the vote on June 23.
Our traders are offering odds of 5/2 for David Cameron to be replaced as Prime Minister before the end of 2016 while it’s 10/1 for a second EU Referendum to be held before July 2017 and 12/1 for a General Election to be held before the end of the current year.
Ladbrokes Latest Betting:
Leave 3/1 (23%)
Remain 2/9 (77%)
David Cameron to be replaced as PM this year 5/2
General Election held this year 12/1
Head to our dedicated EU Referendum site for the latest market moves, insight and analysis.
All Odds and Markets are correct as of the date of publishing.