As widely anticipated, PM Minister Theresa May lost her Brexit deal, as 432 ministers voted against her terms for exiting the European Union on 29 March 2019.
May’s ‘record rejection’, would be countered by Labour leader Jeremy Corbyn immediately triggering a ‘vote of no confidence’ in the government, seeking a snap General Election.
Such a crushing Commons defeat would normally lead to the resignation of a Prime Minister, but in Brexit Britain, nothing appears normal.
Issuing its latest UK Politics update since PM May’s deal judgement, Betfair has priced 1/7 that the government will survive the vote-of-confidence, which will be held within the next 24-hours.
Updating the media, Betfair Spokesperson Katie Baylis said: “Tonight’s unprecedented defeat has thrown up more questions than answers, and first on the agenda will be Corbyn’s Vote of No Confidence.
The Government is 4/1 to lose that vote (1/7 to win) with just enough support to get them through you would think. However, the odds of a General Election are still short at 6/4 with Corbyn the 7/2 favourite to be next PM.
“If the Government and Theresa May can withstand the storm then some sort of a deal still needs to be passed to avoid a no-deal Brexit, and tonight it’s odds-on at 1/5 that there won’t be a deal come the March 29th deadline”
Meanwhile, Paddy Power Politics has moved to price PM May departing office this week at 2/1, from its previous offer of 7/1.
Amid this Commons chaos, Paddy Power backs the government and May of remaining in charge of Brexit procedures, priced at 1/5 to survive the vote as UK politics becomes all drama with no change.
Spokesman Paddy Power said: “After a record-breaking defeat in the Commons, Theresa May walk before the end of the week – either that, or she’ll be forced out.
“It seems as though she may have secured a leave deal after all… for herself.”