Following yesterday’s decision by the UK Supreme Court that the UK government cannot trigger Article 50 without the consent of Parliament, bookmaker William Hill has lengthened its odds on the UK beginning its EU exit negotiations’ before the end of March, the target date specified by Prime Minister Theresa May.
Updating its ‘Article 50 deadline’ market William Hill has moved to price a ‘March trigger’ from 4/7 (63% chance) to 8/11 (57%) as a result of the outcome of the Supreme Court’s Appeal verdict.
Noting that the Triggering of Article 50 has split the majority of MPs, William Hill has priced the odds for Article 50 not to be triggered before the end of March have shortened from 5/4 (44%) to ‘even money’ (50%).
At present, the bookmaker has priced 1/2 that the UK will officially leave the European Union by 2019. Further prices see William Hill offer 5/2 for a delayed 2020 (or later) departure and 5/1 for the UK exit to take place during 2018 or earlier.
Commenting on the Article 50 market, Graham Sharpe William Hill political spokesperson stated; “The Supreme Court ruling may make it slightly more difficult for Theresa May to achieve her stated target of triggering Article 50 before the end of March so we have slightly lengthened the odds”,