Coral slash odds on Remain winning EU Referendum

Sam Barnard | June 20, 2016

Remain odds slash despite polls being dead level

As the momentous EU referendum date looms, Coral have slashed the odds on the Remain campaign winning after the Thursday, June 23rd judgement day to an odds-on price of 1/5 (from 1/3), after political punters put significant money on the UK staying in, in the last 72 hours. 

The odds on Leave, which had been as short as 5/4 at the end of last week, are now out to 10/3, the latest swing in what Coral are calling the most volatile political betting market ever.

“A month ago, Remain was 1/7 and Leave 4/1, and in betting terms the contest looked as good as over, but then we saw a sustained surge of bets placed on Leave, which saw their odds collapse to as short as 6/5, and at that stage it looked as if they could even take over as favourites,” said Coral’s David Stevens.

“Now, in what can only be described as the most volatile political betting market ever, there has been a complete U-turn back to Remain, with 85 per cent of the bets taken since Saturday morning backing that outcome, and it is once again a long odds-on favourite, despite the polls currently having the two sides closely matched ahead of Thursday’s vote.”

Should I stay or should I go?

According to the Financial Times’ poll of polls, updated on June 20th, the two camps running are dead level on 44 per cent each, with 12 per cent of people still undecided, which has incidentally resulted in the value of the British pound rising.