Paddy Power gives Remain 93% likelihood of victory
Bookmakers announce news after flurry of last-minute bets on EU referendum
- Results of historic British vote to become clear by early Friday morning
Updated : 15:30
Bookmaker Paddy Power slashed its odds on a Remain victory in the United Kingdom's referendum on European Union membership, with the result to be revealed early on Friday morning.
Stephanie Anderson, politics trader at Paddy Power, said: “After opening the day at 1/3 we’ve had no choice but to cut Remain into 1/12 this morning after a constant stream of money.
"Punters have been waiting until the day of the vote to part with their cash and Remain is all they’re interested in. As a direct result Leave has drifted out to 7/1 and that could move out even further as the day goes on.”
Roughly £500,000 has been placed on Remain in the last five days, with the event set to become the biggest political money-maker for bookies ever, with over £100m to be taken in.
The results will start to filter in just after midnight on Thursday night and counting is expected to finish by early Friday morning, with a winner being declared in Manchester City Hall by the time markets open at 0800 in London.