With the Brexit vote on Thursday of this week the race is hotting up but a high volume of bets have been being placed for some time.
The bookmaker William Hill has stated that it expects £20million to be gambled on the outcome of the EU Referendum.
It has also been noted that there have been some sizable bets on both Leave and Remain.
William Hill Spokesman Graham Sharpe discussed the betting on Brexit: “A female client from central London placed her first ever bet of £100,000 on Remain at odds of 2/5 so stands to make a profit of £40,000, while on the Leave side another first time female client, from Kingston-upon-Thames, has bet £10,000 at odds of 11/4, standing to make a profit of £27,500′.
He continued: “The Referendum is on course to produce a £20million betting turnover, making it the biggest political betting event we’ve ever seen. To this point, 67% of all the money staked on the EU Ref outcome is for Remain, but 69.6% of all individual bets placed are for Leave.”
On Monday William Hill cut its odds for Remain on three occasions as they went from 4/11 to 1/3, then to 2/7 and now 1/5 (an 83% chance), while Leave was lengthened, from 11/5 to 9/4, to 13/5, then 7/2 (22% chance).
Sharpe stated: “It has not been unusual during the campaign to see sudden surges for one side or the other, and although the Monday money was mainly for Remain we still took a £5000 bet for Leave.”