Betfair makes Leave favourite as pound plummets against dollar

Josh Martin
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Rochester and Strood Parliamentary By-Election
Betting markets point to Leave (Source: Getty)

A Leave victory in the EU referendum is now favourite, leading betting exchange Betfair has said.

The probability the UK leaves the EU has risen to 61 per cent.

The news has come in tandem with a drop in the pound which, at the time of writing, stood at $1.4087 against the dollar. According to analysts, the pound suffered a bigger plunge than Black Wednesday.

As of 2.20am, RTRS said that FTSE futures has plunged six per cent as the Leave vote gained ground.

The probability of a British vote to remain in the European Union rose to 86 per cent yesterday.

Meanwhile, Chris Hanretty, reader in Politics at University of East Anglia, put only a three per cent chance on Remain.

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