It looks likely racing will start again in May…
Over the weekend, there has been a big move for ‘Yes’ in the ‘UK racing to resume on or before 1st June’ on the Betfair Exchange.
It has shortened into 1.35, which is a 74% chance that racing will begin before June 1st.
Over £348,000 has been matched on the market, with the ‘yes’ option being matched as high as 2.6 at one stage.
The ‘No’ option is available to back at 3.65, which traded as low as 1.63 a few weeks ago.
This move towards a likely restart in May is a big positive for the industry and racing fans alike, as the racing world looks to get on its feet again.
The market on whether Royal Ascot will go ahead also has a positive look to it as well. Due to go ahead on the 16th of June, the ‘Yes’ option can be backed at 2.15.
There are obvious logistic issues with such a large operation, but it still looks possible the five-day event could go ahead.
If the market is anything to go by, there is now a very good chance we will see some racing in May and some form of normality resumed.
A lot can change but hopefully, this is the good news so many people are waiting for.
