Punters Bet Big on Remain

cameron paddypower

Since Cameron’s Conservative Party claimed a shock majority in last year’s general election, we’ve experienced an intense build-up to the UK’s European Union Membership Referendum. This week, voters of the UK will either maintain or reject its EU member state status after more than 40 years of trade and co-operation. Up to lunchtime on Monday, the odds say 1/4 to vote In (Remain campaign), and 3/1 to vote Out (Brexit) – driven by a significant new surge of bets on Remain.

Paddy Power has found that high-stakes punters seemed cagey about taking the Leave odds until recently, even at generous odds like the 9/2 that was available at the end of May this year.

In mid-June, two big polling outfits reported 7% leads for Leave when excluding undecided voters. This represented a marked success for the Leave camp, because decided voters for Exit were growing whilst Remain numbers were static. Even then customers appeared to be reluctant to accept the trend. We struggled to sell Exit at 3.5 for days. We even attracted several five-figure sums on Remain at odds between 1.18 and 1.22 during those days.

Eventually there was a take up of the Leave odds as the delayed effect of the polls was finally felt, but considering the consistency of the apparent popularity for Leave in the polls and the press, the odds did not settle as short as one might expect. In the last seven days, Exit odds dropped as low as 6/4 before stabilising at 9/4.

The big guns are out now, and punters have wagered a whopping £500k this. Two single bets of £30k were placed on Remain at odds of 1/3 – the betting support for Remain is huge and shows no signs of faltering.

Read more here…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Nick Timothy on George Osborne’s latest:

“Evening Standard editorials will soon be shortlisted for the Booker Prize.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Civil Service ‘Not Really Preparing’ For No Deal Civil Service ‘Not Really Preparing’ For No Deal
Red Robbins: May’s Brexit Supremo is Soviet Sympathiser Red Robbins: May’s Brexit Supremo is Soviet Sympathiser
May Talks Down CETA Plus Option May Talks Down CETA Plus Option
DEx-ODUS Continues DEx-ODUS Continues
EU Berets at LibDem Conference EU Berets at LibDem Conference
Cabinet Brexit Split: Where They Stand Cabinet Brexit Split: Where They Stand
Gardiner: Watson Not Up To Explaining Single Market Late at Night Gardiner: Watson Not Up To Explaining Single Market Late at Night
Boris Article Wasn’t Wrong About £350 Million Boris Article Wasn’t Wrong About £350 Million
Rudd: I Don’t Want Boris Managing Brexit Rudd: I Don’t Want Boris Managing Brexit
Dyson: No Deal Brexit Won’t Hurt UK Dyson: No Deal Brexit Won’t Hurt UK
Watch: New No 10 “Road to Brexit” Social Media Strategy Watch: New No 10 “Road to Brexit” Social Media Strategy
Farage to Juncker: “You’ve Learnt Nothing From Brexit” Farage to Juncker: “You’ve Learnt Nothing From Brexit”
Juncker: EU Will Expand and Have Its Own Army Juncker: EU Will Expand and Have Its Own Army
Bridges: Transition Until End of 2022 Bridges: Transition Until End of 2022
Guido’s Labour Brexit Explainer As Seen in Commons Guido’s Labour Brexit Explainer As Seen in Commons
Mini-Nuclear Plants Produce Cheap Energy Mini-Nuclear Plants Produce Cheap Energy
Full List: Labour Rebels Full List: Labour Rebels
Full List: MPs Who Voted to Block Brexit Full List: MPs Who Voted to Block Brexit
Corbyn’s Single Market Shambles Corbyn’s Single Market Shambles
Labour’s Brexit Policy Clearly Explained Labour’s Brexit Policy Clearly Explained