Brexit Three Years On: UK 7/1 to rejoin EU in next two years

Max Liu
31 January 2023
3:00 min read

The UK is 7/1 to rejoin the EU in the next two years

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We mark the three year anniversary of the UK leaving the EU with a look at the latest odds on Brexit being reversed...

UK unlikely to rejoin EU anytime soon
Labour odds-on to win majority at next election

Today marks the third anniversay of the UK's exit from the European Union and, while some members of the public think it was a mistake, the chances of Brexit being reversed any time soon look slim.

The UK is 7/1 to rejoin the EU before 2026 and it's not difficult to see why the price is so long.

The impact of Brexit is hitting home, with the IMF today saying the UK would be the only major economy to shrink in 2023.

But neither the UK government nor the opposition Labour party has showed any appetite for ropening the Brexit debate, let alone seeking to rejoin.

Betfair Spokesman Sam Rosbottom said: "Recent polls show a rise in people saying Brexit was wrong, however that hasn't changed the odds, and while the chances of becoming EU members again in the next 10 years improve at 2/1, it's heavily favoured at 1/3 that there will be no British representation in the European Parliament in that time."

Polls show Britons know Brexit was mistake

The UK voted to leave the EU by 52 to 48% in the 2016 referendum and the next four years in Westminster politics were some of the most divisive in living memory.

Boris Johnson TV debate.jpg

The Conservatives won an 80-seat majority at the 2019 general election on a mandate to "get Brexit done" and the then prime minister Boris Johnson duly delivered on that.

The Labour party under Keir Starmer have vowed to respect the result of the 2016 referendum and their focus is winning the next general election which is heavy odds-on to take place next year.

Keir Starmer thumbs up.jpg

To do that Labour need to win back constituencies that voted to leave the EU - the very consitituencies that turned to Johnson's pro-Brexit Tories three years ago.

The Betfair Exchange next election markets make encouraging reading for Labour who are 1.910/11 to win a majority.

A hung parliament is 2.6413/8 and a consecutive Tory majority is 9.08/1.

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