60% of bets over the last week have been placed on another referendum taking place.
Much like the original referendum result, the Great British public are split on whether or not a second Brexit vote will happen. However, since the start of last week, more money has been placed on another referendum occurring than not.
Accruing 60% of bets on the market in the last week, the continued uncertainty over Brexit has led punters to believe the “people’s vote” campaign will have its way.
With betting on political markets reactionary by nature, punters have recently flocked to bet on the events getting particular media attention and bookies have shifted their prices accordingly.
Reports over the weekend alleging that the PM and her cabinet had discussed plans for a second EU referendum prompted bookies to cut odds on it happening and bettors piled onto that outcome in return. In the 'second EU referendum' market, both “Yes” and “No” outcomes sat odds-on at the same price with certain bookies over the weekend.
However, with senior MPs and Theresa May herself since vehemently denying those media claims, the market has shifted back to the “No” outcome being the most likely. Bookies are now implying a 58% probability a second vote will not take place at 8/11, yet punters still aren’t convinced.
With 59% of bets in the last 24 hours still going on the second vote happening, it seems this time that the public refuse to be led by the bookmakers or the government’s assurances.
Oddschecker spokesperson George Elek said: “As Brexit descends into Regrexit a second referendum looks more and more likely.”
“Given the uncertainty surrounding UK politics and the seemingly unquenchable thirst to open up the polling stations, maybe next we will see a market on a referendum to choose if we have a second referendum.”
