Political betting odds on the UK voting to remain in the European Union (EU) have shortened once more in the wake of U.S. President Obama’s controversial intervention in the referendum debate.
The British-based gambling company, Ladbrokes, has reported that after “money poured in over the weekend” backing a Remain result in June’s EU referendum, Brexit odds “took a beating.” At the same time the British pound to dollar rate rose to a near six-week high against the euro as markets were calmed by opinion polls showing a lead for the Remain campaign.
According to Ladbrokes, the odds on the UK voting to leave the EU are now 11/4, with the betting company’s referendum barometer placing Brexit at just 26 per cent — one of the lowest points yet.
— Ladbrokes Politics (@LadPolitics) April 25, 2016
The market in Brexit odds shifted after President Obama expressed his opinion on the referendum debate during his fifth visit to the United Kingdom, as reported extensively by Breitbart London. This will have been helped by the fact his pro-remain advocacy was later supported by a spokesman for the current Democratic Party presidential candidate frontrunner, Hillary Clinton, who said:
“Hillary Clinton believes that transatlantic cooperation is essential, and that cooperation is strongest when Europe is united. She has always valued a strong United Kingdom in a strong EU. And she values a strong British voice in the EU.”
Ladbrokes’ spokeswoman Jessica Bridge explained: “The remain odds are shortening by the day. Brexit campaigners have been dealt several blows recently and that’s been reflected by the punters’ cash.”
With nearly two months to go before the referendum takes place, it remains to be seen whether the long-term effects of the foreign intervention remain positive for the Remain campaign.
A Sky Data Snap Poll has revealed President Obama’s comments may prove to have been counterproductive, with 55 per cent of respondents saying he should not have intervened.
29 per cent say they are now less likely to vote Remain as a result of the U.S. President’s intervention, up 12 percentage points since last Thursday and now higher than the 22 per cent who say he makes them more likely to vote Remain.
[All Odds and Markets are taken from Ladbrokes as of the date of publishing.]
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