The odds on Article 50 being extended have been cut again after Prime Minister Theresa May lost her latest bid to get Brexit through parliament.
Mrs May’s Brexit deal was voted down for a second time on Tuesday evening as she lost by 149 votes, a huge loss although a significant improvement on the 230 vote loss in January.
But with MPs rebuffing her deal, they will now vote on a No Deal motion on Wednesday and with the odds on that at 1/50, they will then vote on whether to extend Article 50 on Thursday.
And it is now odds-on at that Article 50 will be extended at 2/11, with it being as long as 9/2 for it not being extended.
It is now 7/1 for No Deal Brexit – despite the the EU’s chief Brexit negotiator Michel Barnier says the risk of a No Deal has “never been higher”.
OddsMonkey spokesman Peter Watton commented: “The vote on Tuesday went as expected although it did see nearly 100 return to Mrs May’s camp and she may be tempted to a third vote before March 29th to try and push through her deal.
“But this week, the Bookmakers are somewhat certain that No Deal will be pushed to the kerb – it is as long as 7/1 for the UK to leave as with No Deal – whilst at 2/11 for Article 50 to be extended, that is very much the favoured outcome.”
Selected Brexit odds:
Article 50 to be extended?
Yes – 2/11
No – 9/2
UK to leave European Union with No Deal?
Yes – 7/1
No – 2/15
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Spokesman Peter Watton is available for further comment or one-on-one interviews on this subject or anything connected with a betting market – for more information please contact email@example.com or call 01916404262