BREXIT : Bookmaker offers best odds and money back if vote Leave loses
20th June 2016 – Online bookmaker, Tonybet.com has taken the unprecedented step of guaranteeing best price LEAVE (Brexit) on the EU Referendum vote in the UK this week. The bookmaker is open for business on this market until 7pm UK time on Thursday night betting to a 100% margin, providing unrivalled odds. In addition, if customers bet on Leave (Brexit) with Tonybet.com, and Remain wins, customers will get their money back up to £20 pounds!
Tonybet.com UK spokesman Warren Lush said: “We have taken a very firm view that we think Remain will win so we want to attract as much business on Leave as possible. It really is a no lose bet if you back Leave with us as there is money back up to £20 if it doesn’t happen.”
“We also intend to bet in-running during polling day during one of the biggest days in modern European history but we aren’t expecting any major swings. Our founder Tony G has gone on the record challenging Nigel Farage to a £1 million charity bet and saying that he would take any money in the world on Leave and the current management echo these sentiments.”
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“It is well known that betting markets are seen as a better indicator of what is happening than traditional opinion polls and we forecast the odds shortening on Remain but not with a dramatic swing. At the weekend we saw record levels of bets on the Brexit market so let’s see how it plays out.”
Tonybet.com recently offered a huge 200/1 that Leicester City would win the Premier League next year when the common price was 40/1.
The current odds are and the market can be found at the politics betting section.
The Times headline this morning confirms the bookmakers views. “Pound surges as Brexit opinion polls show neck-and-neck race
– Sterling eyes best session since December 2008.”
Stock markets also moved higher in the UK and across the globe, reversing some of the most tangible signs of unease which had accompanied swelling support for Leave before the murder last week of Labour MP Jo Cox prompted a suspension of campaigning.
In contention with that view the Wall Street Journal said a few hours ago that “Markets Ignore the ‘Brexit’ Worst-Case Scenario: A Sterling Crisis.” It went further – Amid the speculation about what an exit from the EU would mean, little attention has been paid to the core assumptions investors are making.
PoundSterlingLive has a mixed bag of results with various headlines from all over Europe but by and large, the general consensus amongst traders in both stocks and foriegn exchange is that the Remain vote will eventually prevail.
From Zerohedge comes a view SocGen echoing exactly what we at truepublica feel will happen next:
Whatever the outcome of the Brexit vote this week investors will still be facing the prospect of negative rates and negative yields on a huge range of bonds, massive corporate leverage with worryingly rising delinquencies and of course expensive equity markets and falling profits. To that extent these political events are a distraction from the main event, weak global economic growth and perverse asset markets. So whilst the market preference for the status quo might be celebrated in the short-term, actually when the fog clears all of the problems will still be there.