Brexit Odds Update – Politics Betting

Brexit market perks up after Labour back a Second Referendum

Novelty Betting & Other Events Betting

Just a week after the odds tumbled for Jeremy Corbyn to be replaced as Labour Party leader in 2019 following the resignation of several Labour MPs, it looks like the member for Islington North has played a blinder by backing an amendment in Parliament to propose a second EU Referendum should Theresa May’s latest attempt at refining her withdrawal deal hit the buffers again.

It is, however, probably with some reluctance that Corbyn has agreed to put the Labour Party whip behind a new public vote but he’s realised it may be the only way to oust the current government and halt Britain’s slide towards a ‘no-deal’ scenario with it’s potentially catastrophic implications for trade and industry. Corbyn is not a great advocate of the EU but will be aware that backing a public vote could deflect attention from the problems besetting the Labour Party at present and there is little doubt that most of his MPs would favour remaining in the EU, despite what some of their constituents might think. Double standards, of course, and not really representing the views of the electorate but is that not the nature of politics, especially those connected to Brexit?

Now the Daily Mail (not the most reliable of sources perhaps) tells us that the Prime Minister is on the verge of ruling out a ‘no-deal’ Brexit herself following a mass revolt within her own Cabinet. Apparently, the ministers involved say they are prepared to back a Commons move by rebel MPs tomorrow which would force the Prime Minister to seek a Brexit delay if her deal is voted down. Theresa May’s latest charm offensive on the EU in Egypt this week doesn’t appear to have worked, apparently.

Labour’s major shift on policy is a gamble and could alienate some of its core supporters, who voted to quit the EU. But how may of those who voted Leave in 2016 would vote the same way now? The Leave campaign has been proved a lie with its financial backers, and his sources, under investigation. You can guarantee any second Remain campaign would be much more vigorously undertaken and it now seems certain that Article 50, which will facilitate Britain’s exit from the EU, will at least be extended beyond its March 30 deadline (2/11 with Betfred).

The prospect of Britain leaving the EU without a Withdrawal Agreement (No Deal) in place seem to be rapidly diminishing and can now be backed at 19/4 with Betway. It is only a best 9/4 with Bet365 that there is a Second Referendum. 

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