The Brexit rally has started to fade as high-staking Remain backers place increasingly-large pro-EU wagers on the outcome of the upcoming Referendum.
We had recently seen a surge of support for Leave in the betting markets with our Brexit Barometer indicating a 32 per cent chance at one stage last week.
However, that boon appears to be over with Leave sliding back to 28 per cent, or 12/5 if you’re examining the odds.
And it’s high-staking Remain backers who are preventing any further price shortening for Brexit.
Longer odds of 1/3 attracted a slew of four and five figure punts from those looking for a bit of value about the chances of Britain voting to stay in the EU.
As of 17:00 yesterday afternoon a whopping 75 per cent of bets placed were in favour of Remain as political punters made their presence felt.
Alex Donohue of Ladbrokes said: “The Remainers have been out in force today. They clearly all agree that 1/3 is a price worth taking and a flood of remain cash has washed away the prospect of the leave odds shortening any further.”
Ladbrokes latest betting:
Leave 12/5 (28%)
Remain 3/10 (72%)
Keep checking back to our dedicated EU Referendum site for the latest market moves, insight and analysis.
All Odds and Markets are correct as of the date of publishing.