Britain's bookies slash odds on UK remaining in EU - report

20th May 2016 19:09

(ShareCast News) - Britain's high-street bookies are slashing the odds of the UK voting to remain in the EU, with an overwhelming number of punters now betting a Brexit will not happen, a report says.William Hill cut the odds on a remain vote for a third consecutive day on Thursday to 1/5, or an implied probability of 83%, the Financial Times reported. It was accompanied by other high-street bet-takers, the newspaper reported.Ladbrokes said 90% of the bets it had taken were for Britain to stay part of the EU.The newspaper reported the total amount wagered on the Brexit market would beat all other UK political events, citing Betfair.To date, £13 million of bets have been matched on the Betfair exchange, £9 million of which has been wagered in the past month.