SBC News Voice of the Sports Betting Industry
Bookmakers believe that the outcome of the UK ‘EU Referendum’ (23 June) is set to go down to the wire as ‘Leave’ and ‘Remain’ camps enter their final weeks of public campaigning.
Just as ‘Leave’ had reached its longest odds, with the majority of UK bookmakers pricing the outcome at 7/1. This week bookmakers have moved to slash the odds on a BREXIT to 11/4 and 5/2.
The shortening of ‘Leave’ odds, follows a frenzy of punter activity on the market favouring the UK breaking away from the European Union.
This week bookmakers William Hill, Ladbrokes, Coral and Betfair have all publically stated that they recorded significant increased betting activity on the market, pointing in favour of a ‘Leave’ outcome.
Although ‘Remain’ at present leads the market at 2/7, pro EU-campaigners have this week witnessed polls turn against their cause, as The Guardian (a pro-EU newspaper) published two ICM censuses favouring ‘Leave’ at 52% of public opinion.
Noting that bookmaker markets were shortening ‘Leave’ odds, UKIP leader Nigel Farage has this week placed a £1000 BREXIT bet at Ladbrokes, declaring his party’s intent
“We now firmly believe that we are going to win. It is still three to one against Brexit. Get down to the bookies.”
As the June 23 voting day approaches, many industry stakeholders believe that the ‘EU Referendum’ will break all UK political betting market records, with wagering set to be in the £ millions.
