Brexit: Immigration debate leads to bookmaker slashing odds
Paddy Power cuts odds to 9/2 after heavy cash flow in favour of leave campaign
- Immigration fears continue to take over referendum debate after recoord-breaking figures released last week
Irish bookmaker Paddy Power has significantly reduced its odds on the British electorate to vote to leave the European Union in the referendum on the 23rd of June.
Tuesday saw the sharpest drop in odds on the leave vote, as it went in from 9/2 to 5/2, with the remain vote still solid at 2/7.
Fears over immigration has consistently been one of the main talking points of the debate, and amid the record-breaking figures released via an ICM phone polllast week and the events of the Kent coast at the weekend, there has been a surge of money in the leave direction.
According to a press release from Paddy Power, they have taken several chunky bets of over £500 on leave in the past two days, citing a 75% market share to the same side.
"We've seen plenty of support for Vote Leave in the past week and it is significant given the weight of money involved," they said.
With immigration concerns top of the news agenda it’s no surprise punters are willing take a gamble on Vote Leave
"With immigration concerns top of the news agenda it’s no surprise punters are willing take a gamble on Vote Leave at bigger odds, while it’s telling that the betting reflects the mood of Britain in the most recent polls.”
The odds continue to fall at other bookmakers too with Boylesports also taking a similar decision on Tuesday, as the campaign begins to heat up ahead of the referendum.
Both sides will take to the road this week in an effort to battle for their respective campaigns, and the future of the UK hangs in the balance.