Betfair’s odds have now reached 86 per cent in favour of staying in Europe, up from a range between 60 and 67 per cent by the end of last week reports CityAM
The odds for Remain are 2/13, while Leave is 6/1 at 14 per cent.
More than £55m has now been traded on the Betfair market, making it the largest political betting market in the bookmaker’s history. The previous biggest political betting market was the US election in 2012, which traded £40m.
Scotland currently has the highest proportion of people backing Remain, with 64 per cent of Scottish-based bettors betting on a vote to stay in the EU, while the East of England at 55 per cent and Guernsey at 57 per cent have the most bets placed on a Brexit vote.
Betfair spokesperson Naomi Totten said: “Remain has been backed hard again this morning with the price coming in from 1.3 (a 1/3 or a 77 per cent chance) to 1.16 (2/13 or an 86 per cent chance) on the back of £4m traded.”
There was nearly £10m traded on the day of the Scottish referendum so the market will be worth watching closely as polling day continues.
Bookie William Hill said this morning that its latest referendum odds for Remain were 2/9, or an 81 per cent chance of voting to stay, while Leave odds were 3/1, equivalent to a 25 per cent chance of voting to go.