Drastic Brexit betting odds drop after Johnson reaches EU Deal

author: andrew submitted: 18 October 2019

Another crazy shift in Brexit betting. This time the political market odds took a steep downfall after the Thursday morning announcement of the Deal being reached. However, it seems like the end is not as near as it might seem at first sight.

The British Prime Minister, Boris Johnson, was pretty much put against the wall with his Brexit agenda. British Donald Trump managed to escape the crunch time after being threatened by the Benn Act and the opposition.

Despite being an underdog with EU talks, Mr. Johnson shook the world the very Thursday morning, tweeting about the new Deal being reached: “We’ve got a great new deal that takes back control — now Parliament should get Brexit done on Saturday”.

Great news for the whole nation, however, there’s much to be done considering the entire government is against him.

One of the top online bookmakers Unibet saw its political betting odds for the Halloween exit slashed from 6.00 (5/1) to 3.00 (2/1) within just 40 minutes. Another British bookmaker, 888sport, priced the possibility of the UK leaving the EU on October 31 at 1.10 (1/10), however, ending up moving the price to 1.25 (1/4) by 11:00 am.

Such odds jumps only suggest the uncertainty of punters regarding the direction which Brexit would take.

The hot hand phenomenon