Betfair states that Brexit will break £50m barrier

first_imgShare With ‘Remain’ currently trading at a 77% chance and with just 13 days to go, Betfair’s ‘Brexit’ market is set to trade £50 million and in doing so make political betting history. The EU referendum market has seemingly captured the attention of Betfair customers.There have been tens of thousands of individual trades ranging from £2 to £315,000 showing that it’s  been popular for the recreational punters and sophisticated traders alike.Based on the acceleration of betting in political markets in the days before the outcome, Betfair is predicting that the Brexit market will easily surpass the £40m traded for the 2012 US Presidential Election. This is the previous record traded for a single political event.Naomi Totten, BetfairNaomi Totten, spokeswoman for Betfair, said: “The level of interest in this market continues to transcend expectations and the Brexit may not only surpass political betting records but is also on course to reach the levels traded on ODI cricket matches and Grand Slam tennis finals.“Of the £22m on the market, £17m of that is on a vote to Remain. As it stands the market suggests there is only a 22% chance of Britain leaving the EU, which speaks volumes when considering just how much money has been staked.” Submit Flutter moves to refine merger benefits against 2020 trading realities August 27, 2020 ‘Deal maker’ Rafi Ashkenazi ends Flutter tenure  August 27, 2020 Share StumbleUpon EU research agency demands urgent action on loot box consumer safeguards July 29, 2020 Related Articleslast_img

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