The chances of Britain leaving Europe decreased marginally following David Cameron’s EU deal, according to leading bookmakers.
Ladbrokes shifted its 15/8 odds on a leave vote to 2/1 this morning after David Cameron’s deal was announced last night.
It said it believed the deal meant the chance of a leave vote fell by just 2 per cent, reaching 31 per cent down from 33 per cent.
What has the EU ever done for us?
What has the EU ever done for us?
1/7 1. It gives you freedom to live, work and retire anywhere in Europe
As a member of the EU, UK citizens benefit from freedom of movement across the continent. Considered one of the so-called four pillars of the European Union, this freedom allows all EU citizens to live, work and travel in other member states.
2/7 2. It sustains millions of jobs
A report by the Centre for Economics and Business Research, released in October 2015, suggested 3.1 million British jobs were linked to the UK’s exports to the EU.
3/7 3. Your holiday is much easier - and safer
Freedom to travel is one of the most exercised benefits of EU membership, with Britons having made 31 million visits to the EU in 2014 alone. But a lot of the benefits of being an EU citizen are either taken for granted or go unnoticed.
4/7 4. It means you're less likely to get ripped off
Consumer protection is a key benefit of the EU’s single market, and ensures members of the British public receive equal consumer rights when shopping anywhere in Europe.
5/7 5. It offers greater protection from terrorists, paedophiles, people traffickers and cyber-crime
Another example of a lesser-known advantage of EU membership is the benefit of cross-country coordination and cooperation in the fight against crime.
6/7 6. Our businesses depend on it
According to 71% of all members of the Confederation of British Influence (CBI), and 67 per cent of small and medium-sized enterprises (SMEs), the EU has had an overall positive impact on their business.
7/7 7. We have greater influence
Robin Niblett, Director of think-tank Chatham House, stated in a report published last year: “For a mid-sized country like the UK, which will never again be economically dominant either globally or regionally, and whose diplomatic and military resources are declining in relative terms, being a major player in a strong regional institution can offer a critical lever for international influence.
The betting market is still heavily backing success for the remain campaign with Ladbrokes offering odds of 4/11 compared to 2/5 before the deal.
However, William Hill said that while the odds were currently stacked in favour of a remain vote, they could change rapidly if high profile figures such as Boris Johnson supported a leave vote.
The Mayor of London is yet to decide which side to take in the campaign.
Graham Sharpe, a spokesperson for the bookmaker, said: “It looks at the minute as if a vote to remain in the EU is the hot favourite.
“But it's not impossible that that is the reaction to the fact that all of the publicity has been with David Cameron securing his deal.”
A decision by prominent figures such as Boris Johnson to campaign to leave the EU could turn the odds upside down, he said.
Current William Hill odds are 2/7 for Britain to remain in the EU, and 5/2 to leave.
Similar odds are reflected across most of the major bookmakers. Punters have reportedly been placing bets worth up to £5,000 on success for the remain campaign.
Mr Cameron announced today that the referendum will be held on June 23.
In 2014, a punter netted more than £35,000 after placing a £200,000 bet on Scotland rejecting independence at referendum.
Mr Cameron’s deal, which has been long negotiated, provides powers to limit migrant benefits and protect the UK’s sovereignty.