“The betting is just massive,” says Mike Smithson, founder and editor of PoliticalBetting.com, a website that is something like a Bloomberg terminal for people who wager on political events. He characterizes the referendum as “the biggest political betting event of all time, anywhere.”
On Tuesday and Wednesday alone, the Brexit vote attracted wagers worth more than £3 million ($4.4 million), most of it via online transactions, and three-fourths landing on remain, Mr. Smithson estimated.
Yet in contrast:
William Hill estimates that the bookmaking industry will rack up wagers of £500 million ($735 million) on the European Championships. A World Cup final alone tends to attract £200 million ($294 million) in wagers to William Hill’s books.
That is from the NYT. Last I saw the odds on Brexit were down to about 12 percent. I also walked by the European Commission in Brussels, and saw not the slightest sign of panic or for that matter interest. Nor was anyone in Molenbeek this morning gazing at the Brexit odds on their smart phones — most were too busy selling vegetables.