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class="entry_header"> <h1 class="entry_header__title">Brexit: Exchange market on course to break all political betting records</h1> <ul class="entry_header__meta"> <li><a href="https://betting.betfair.com/authors/admin-2/">Editor</a></li> <li><time datetime="2016-04-27">27 April 2016</time></li> </ul> <script type="application/ld+json"> { "@context": "http://schema.org", "@type": "NewsArticle", "headline": "Brexit: Exchange market on course to break all political betting records", "name": "Brexit: Exchange market on course to break all political betting records", "description": "Betfair's 'Brexit' market has exploded into life this week with just under £4m matched between customers in the last seven days. This brings the total trade...", "url": "https://betting.betfair.com/politics/brexit/brexit-exchange-market-on-course-to-break-all-political-betting-records-270416-6.html", "mainEntityOfPage": "https://betting.betfair.com/politics/brexit/brexit-exchange-market-on-course-to-break-all-political-betting-records-270416-6.html", "datePublished": "2016-04-27T10:31:00+01:00", "articleBody": "Betfair's 'Brexit' market has exploded into life this week with just under £4m matched between customers in the last seven days. This brings the total traded in the market to £8m... 'Remain' has now been backed into a heavy 2/5 favourite, odds implying a 71% chance to win, while Brexit has weakened to a 12/5 outsider, representing a 29% chance to win. While there have been six figure bets on either side, 69% of all individual trades are on Remain, with the biggest standing to win £200,000 should the UK vote to stay in the EU. The catalyst to recent activity has been the visit of Barack Obama; the US President's comments about Britain's weaker position outside of Europe led to a flurry of trading last weekend - more of which here. This momentum has continued this week with several big individual trades of up to £315,000 being placed by customers via Betfair's brokerage team. At its current rate, the market could beat Betfair's previous traded volume for a single political event (£40m for the 2012 US Presidential Election) The current odds of "Remain" mirror those of the eventual "No" vote in the Scottish Referendum at a similar stage. Naomi Totten, Betfair spokeswoman, said: "Remain was already a strong favourite before Barack Obama's visit, implying a 66% chance to win, but his comments sparked another wave of trading over the weekend with Remain backed as low as 1/3, which implies a 75% chance. "The level of interest is unprecedented, it's seen six-times more trading than the Scottish referendum at a similar point, and we're seeing a steady stream of big punters requesting six-figure trades from our brokerage team. "As it stands, the market could eclipse Betfair's [£40m] record for traded volume for a single political market. We've seen £8m matched to date and trading typically accelerates much closer to the event." ", "image":[ "https://betting.cdnppb.net/politics/BorisJohnson640.728x410.jpg", "https://betting.cdnppb.net/politics/BorisJohnson640.547x410.jpg", "https://betting.cdnppb.net/politics/BorisJohnson640.410x410.jpg" ], "publisher": { "@type": "Organization", "name": "Betting.Betfair", "logo": { "@type": "ImageObject", "url": "https://betting.cdnppb.net/assets/img/betfairlogoblack.ea48b4e0.png" }, "url": "https://betting.betfair.com/" }, "author": { "@type": "Person", "name": "Editor", "url": "https://betting.betfair.com/authors/admin_2" } } </script> </header> <div class="two_column_layout"> <main class="entry_main"> <div class="entry_img"> <img src="//betting.cdnppb.net/politics/BorisJohnson640.640x480.jpg" srcset="//betting.cdnppb.net/politics/BorisJohnson640.450x338.jpg 450w, //betting.cdnppb.net/politics/BorisJohnson640.600x450.jpg 600w, //betting.cdnppb.net/politics/BorisJohnson640.640x480.jpg 728w" alt="Boris Johnson's 'part Kenyan' attack on Barack Obama hasn't helped the Brexiters' cause"> <figcaption class="entry_img__caption">Boris Johnson's 'part Kenyan' attack on Barack Obama hasn't helped the Brexiters' cause</figcaption> </div> <div class="entry_actions"> <div> <a class="button button--dark" href="https://promos.betfair.com/promotion?promoCode=ACQZBGC01B10G30A&prod=90&rfr=2573">Join</a> </div> <div> </div> <div class="entry_actions__social entry_actions__social--twitter"> <a href="https://twitter.com/intent/tweet/?text=Brexit%3A%20Exchange%20market%20on%20course%20to%20break%20all%20political%20betting%20records&url=https%3A%2F%2Fbetting.betfair.com%2Fpolitics%2Fbrexit%2Fbrexit-exchange-market-on-course-to-break-all-political-betting-records-270416-6.html" target="_blank" title="Twitter"><span class="sprite_icon sprite_icon--twitter">Twitter</span></a> </div> <div class="entry_actions__social entry_actions__social--facebook"> <a href="https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fbetting.betfair.com%2Fpolitics%2Fbrexit%2Fbrexit-exchange-market-on-course-to-break-all-political-betting-records-270416-6.html" target="_blank" title="Facebook"><span class="sprite_icon sprite_icon--facebook">Facebook</span></a> </div> <div class="entry_actions__social entry_actions__social--reddit"> <a href="https://www.reddit.com/submit/?url=https%3A%2F%2Fbetting.betfair.com%2Fpolitics%2Fbrexit%2Fbrexit-exchange-market-on-course-to-break-all-political-betting-records-270416-6.html" target="_blank" title="Reddit"><span class="sprite_icon sprite_icon--reddit">Reddit</span></a> </div> <div class="entry_actions__social entry_actions__social--whatsapp"> <a href="https://api.whatsapp.com/send?text=https%3A%2F%2Fbetting.betfair.com%2Fpolitics%2Fbrexit%2Fbrexit-exchange-market-on-course-to-break-all-political-betting-records-270416-6.html" target="_blank" title="WhatsApp"><span class="sprite_icon sprite_icon--whatsapp">WhatsApp</span></a> </div> <div class="entry_actions__social entry_actions__social--telegram"> <a href="https://t.me/share/url?url=https%3A%2F%2Fbetting.betfair.com%2Fpolitics%2Fbrexit%2Fbrexit-exchange-market-on-course-to-break-all-political-betting-records-270416-6.html&text=Brexit%3A%20Exchange%20market%20on%20course%20to%20break%20all%20political%20betting%20records" target="_blank" title="Telegram"><span class="sprite_icon sprite_icon--telegram">Telegram</span></a> </div> <div> <a class="button button--dark" href="#betslip">View the Betslip</a> </div> </div> <div class="entry_body has-odds"> <div class="entry_body__intro"><p>Betfair's 'Brexit' market has exploded into life this week with just under £4m matched between customers in the last seven days. This brings the total traded in the market to £8m...</p></div> <div class="entry_body__quote"> <blockquote><p>• Eight million pounds traded on the Betfair Exchange EU Referendum Market to date<br/> • Four million pounds traded in the past week<br/> • Momentum firmly behind a vote to ‘Remain’ in the EU<br/> </p></blockquote> </div> <div class="entry_body__content"> <div class="editor"> <p>'Remain' has now been backed into <span>a heavy 2/5 favourite</span>, odds implying a 71% chance to win, while Brexit has weakened to a 12/5 outsider, representing a 29% chance to win.<p>While there have been six figure bets on either side, <strong>69% of all individual trades are on Remain</strong>, with the biggest standing to win £200,000 should the UK vote to stay in the EU.</p><p>The catalyst to recent activity has been the visit of <strong>Barack Obama</strong>; the US President's comments about Britain's weaker position outside of Europe led to a flurry of trading last weekend - <a href="https://betting.betfair.com/politics/brexit/brexit-betting-update-president-obama-24th-april-240416-204.html" target="_blank">more of which here</a>. This momentum has continued this week with several big individual trades of up to £315,000 being placed by customers via Betfair's brokerage team.</p><p>At its current rate, the market could beat Betfair's previous traded volume for a single political event (<strong>£40m</strong> for the 2012 US Presidential Election)</p><p>The current odds of "Remain" mirror those of the eventual "No" vote in <strong>the Scottish Referendum</strong> at a similar stage.</p><p>Naomi Totten, Betfair spokeswoman, said: "Remain was already a strong favourite before Barack Obama's visit, implying a 66% chance to win, but his comments <strong>sparked another wave of trading</strong> over the weekend with Remain backed as low as 1/3, which implies a 75% chance. </p><p>"The level of interest is unprecedented, it's seen six-times more trading than the Scottish referendum at a similar point, and we're seeing a <strong>steady stream of big punters</strong> requesting six-figure trades from our brokerage team. </p><p>"As it stands, the market could eclipse Betfair's [£40m] record for traded volume for a single political market. We've seen £8m matched to date and trading typically accelerates much closer to the event." </p><p><br> </p></p> </div> </div> <section class="betting_copy"> <div class="editor"> <h2></h2> <p><span>EU Referendum Result </span><p>- In favour of staying in EU <b class="inline_odds" title="2/5"><span class="inline_odds__main">1.4</span><span class="inline_odds__tooltip">2/5</span></b> (2/5 or a 71% likelihood)<br> - In favour of leaving EU <b class="inline_odds" title="12/5"><span class="inline_odds__main">3.4</span><span class="inline_odds__tooltip">12/5</span></b> (12/5 or a 29% likelihood)</p></p> </div> </section> <section class="betting_copy"> <div class="editor"> <h2 class="promo-name bf-sportsbook" data-qa="promo-name">New customers can get £20 in free bets!</h2> <p>New customers can earn £20 in free bets when they place a £5 bet on the Sportsbook after signing up. <a href="https://promos.betfair.com/promotion?promoCode=ACQZBHC01B5G20">T&Cs apply.</a></p> <section 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Most read stories
Horse Racing Tips and Predictions
Saturday Racing Tips: Tony Calvin backs 33/1 Sandown bet to shock doubters
Football Betting Tips
Crystal Palace v Liverpool: Tuck in to 9/4 & 4/1 lunchtime specials at Selhurst Park
Horse Racing Tips and Predictions
Paul Nicholls: Iceo has nice chance in Betfair Henry VIII Chase among my 12 Saturday runners
Horse Racing Tips and Predictions
Kevin Blake's Big Races Verdicts: Goshen and Edwardstone can challenge in Betfair Grade 1s at Sandown
Cricket Betting Tips
West Indies v England Third ODI Tips: Chase looks good at 14/1
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