As Theresa May promises to give MPs a series of Brexit-related votes the chances of no deal get longer and longer...
"Betfair customers had backed a no deal Brexit into [3.65] but those odds have ballooned, currently standing at [9.6]."
The odds on a no deal Brexit are on the retreat after Theresa May promised MPs a series of votes on delaying the UK's departure from the EU or ruling out a no-deal Brexit.
Parliament will be given that option if they reject her proposed Brexit deal next month.
Betfair customers had backed a no deal Brexit into [3.65] but those odds have ballooned, currently standing at [9.6].
May will put her bill to the house on March 12. If it fails MPs will vote the following day on whether they would support a no deal Brexit. Should that fail, they will then vote the following day on extending the Article 50 deadline from its current March 29 cutoff.
May is against extending Article 50 and has been explicit in opposing any long-term delays. April to June 2019 is currently the likeliest date for Brexit to happen, and can be backed at [2.88] on Betfair now. However, the next likeliest date is 'not before 2022' so punters have not ruled out Parliament forcing a very long delay.