The odds on whether or not a second vote will happen are getting closer across the board.
In light of reports that Theresa May and her cabinet have allegedly discussed plans for a second EU referendum, there has been a spike in betting activity on both possible outcomes.
In the ‘Second EU referendum’ market, William Hill now have both “Yes” and “No” outcomes priced at 5/6. That is the current best price on there being no second vote, while the best price on it happening is 5/4. The odds are scattered around the even money mark on both possible conclusions.
It’s relatively even with the punters too, but more money is going on the "Yes" side. 56% of bets on this market in the last 24 hours have gone on there being another referendum, while the remaining 44% have been placed on there being no second vote.
Senior MPs have vehemently denied claims that contingency plans are being drawn up for a second Brexit vote. Education secretary Damian Hinds said another referendum would be “divisive”, while Liam Fox told Andrew Marr that Brexiteers would demand a “best of three” should that happen.
The dramatic events of last week saw Theresa May cancel the vote on her divorce deal, fruitlessly travel to Brussels seeking assurances and then survive a vote of no confidence back at home. Calls for a ‘people’s vote’ were stronger than ever following that whirlwind, but the possibility still looms.
Oddschecker spokesperson George Elek: “A second vote on Brexit seemed farfetched this time last year, but the turmoil over the last couple of weeks has seen bookies slash odds on that outcome.”
“With the people’s vote campaign gathering momentum, more money is now going on there being another referendum, while bookies can’t settle on their position.”
