Brexit odds: Leave becomes favourite for first time after early results boost

Early results brings change of heart from bookies

Jon Stone
Friday 24 June 2016 02:18
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Supporters of the Stronger In Campaign react to early results
Supporters of the Stronger In Campaign react to early results

Britain is now odds-on to leave the European Union for the first time, bookies have said.

As of 2.20am, Paddypower had Leave at 4/7 and Remain at 11/8 while Ladbrokes had 8/15 to 11/8.

Other bookmakers also had similar odds for the first time since the campaign started.

Follow the latest updates on the EU referendum

Betting markets, however, appeared confused by the stream of results from across the country.

Betfair odds trading index showed Leave becoming more likely in the early hours of the morning.

Remain then took the lead again an hour later, with the two options crossing back and forth as late-night gamblers piled in on scraps of new news.

Some final polls released on Wednesday night however showed Leave narrowly ahead.

As counting night has progressed it appears that Leave has the advantage – or that the result will be significantly closer than expected.

High turnout in suburban Eurosceptic areas compared to more subdued turnout in metropolitan areas appears to have driven the results.

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