Everything You Need to Know About Brexit Betting Odds
The back and forth in political circles over proceeding with Brexit or a no-deal Brexit continues to cause controversies as Members of Parliament (MP) and the UK Prime Minister Boris Johnson continue to be at odds. The on-going uncertainty over Brexit has caused a number of betting sites in the UK and the EU to open up multiple lines and they are receiving an on-going flow of wagers.
We will list some of the most common Brexit betting options you are likely to find at popular UK no deposit casinos. We list out current odds along with a brief explanation of what it means for those who are not certain what Brexit is all about.
Brexit came into play back in June 2016 when 30 million Brits decided to vote on Brexit and 52 percent ended up voting to in favor of leaving the EU. Theresa May who was Prime Minister in 2017 decided to trigger Article 50 in March 2017 to commence the process to leave the EU.
So far two deadlines for Brexit have been pushed back and the third deadline could also end up the same way. Here are the current betting odds on a potential Brexit date.
Brexit taking place between April to December 2019 has odds of 7/11; while Brexit not happening before 2020 has odds of 11/10 and Brexit not taking place before 2022 has odds of 3/1.
PM Boris Johnson has created quite a stir as he is very keen on sticking to the 31 October 2019 Brexit deadline. PM Johnson has stated that if the UK is unable to reach a deal before the deadline, it should proceed with a no-deal Brexit. However, his views are not shared by MPs who are looking to pass legislation that will make it illegal for the PM to go ahead with a no-deal Brexit.
Bookmakers currently have odds of 4/9 for NO (withdrawal agreement gets ratified. Article 50 gets extended past 2019 or Article 50 gets dropped) and odds of 28/15 for YES (UK leaves the EU in 2019 without having a withdrawal agreement in place).
A lot of Brits are not very sure what a No-Deal Brexit means for them as the political jargon throws them off. To put it in lay man’s terms, a no-deal Brexit could turn out to hurt their pockets in a number of ways.
Financial analysts expected the pound to decline if a no-deal Brexit takes place and will result in Brits paying more for groceries, healthcare and travel. It will also make it more tedious for them to travel to the EU as well as for EU citizens living in the UK as they will have to apply for a status permit.
The odds of Article 50 being revoked currently stands at N0 (4/11) and YES (9/2).
Brexit Outcomes That Will Take Place Next
While the UK Government continues to debate Brexit and what the next step in the process should be, betting operators have outlined the four potential scenarios on the table.
- The first scenario is for the UK to set a date for a general election before 5 May 2022 and this has odds of 4/11.
- The second scenario is for the UK to extend the deadline for Article 50 beyond 31 October 2019 and this has odds of 3/1.
- The third option is for the UK to exit the EU with a different withdrawal agreement and this has odds of 25/2.
- The fourth option is for the UK to proceed with a no-deal Brexit and this has odds of 15/1.
The odds generally tell the story of how things are most likely going to turn out between the UK and the EU. This will most likely mean that the Brexit scenario continues to be confusing for the common man as the deadline is likely to get extended again.
Brexit Outright Bets
Sportsbooks are going crazy by rolling out a number of unique betting options regarding potential Brexit scenarios.
Some of them come across as a little crazy but don’t be surprised if they get attention as the Brexit scenario continues to play out. We give you a list of some of the different outright Brexit bets currently available:
- Another UK EU Referendum before the end of 2019 (16)
- The Queen will move and stay permanently in Ireland in 2019 (150)
- Second No Confidence vote in the UK Government taking place in 2019 (Yes – 5/4) and (No – 4/7)
- Britain to run out of contraceptives in 2019 (7)
- UK Government to officially announce food rationing in 2019 (9)
Some of the other interesting bets that have a long list of items include:
1. Which of these industries will be privatized in 2019?
- Network Rail (16)
- Post Office (25)
- BBC (25)
- NATS Holdings (20)
- NHS (125)
2. Which item will the UK Gov officially ration first in 2019?
- Milk (11)
- Fuel (4)
- Bread (16)
- Beef (20)
- Olive Oil (16)
3. What will be the interest rate in the UK by the end of 2019?
- 0.75 percent (5/4)
- 0.50 percent (21/10)
- 0.25 percent (5)
- 1 percent (4)
- 0 percent (7)
- 2 percent or more (10)
If you are one of those bettors who would like to wager on some of these interesting Brexit betting odds, it is important for you to keep a close watch on breaking news both in the UK and the EU in order to get both sides of the story and make an informed betting decision.