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.
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.
Join our new commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies