On the eve of the referendum on Britain’s membership of the European Union, most bookies predict that the Remain vote will eventually prevail. The million-dollar question is: will their political prediction come true for the third time?
If their track record will be the basis, The Independent reported that bookies are able to predict the outcome of two of the three recent major political events in the UK – the Scottish referendum when they predicted a No vote when some polls suggests a Yes vote and when they consistently made the Tories the largest political party, which is contrary to the forecast of some polls suggesting a Labour victory.
The only time when oddsmaker made a wrong guess was when it predicted that the Conservative will not become a majority political party. Still, the spread betting markets got closer to the truth than the most of the pollsters.
Now that British, Irish and Commonwealth citizens who are resident in the UK or Gibraltar are set to troop to the polling precincts to cast their votes, majority of the betting operators are confident that the UK will not leave the European Union (EU) and has made the Remain camp the odds-on favorite.