Paddy Power shortens odds on BoJo scrapping backstop

As Boris Johnson’s trip over to the continent has continued to attract attention from UK media, Paddy Power has shortened its odds on whether BoJo can secure a deal with Angela Merkel where a backstop doesn’t exist, despite her outlining a hard line 30-day time limit.

The Irish bookmaker has been offering odds of 8/1 that BoJo can agree a deal with Merkel where a backstop doesn’t exist, within her 30-day time limit.

Paddy Power has also outlined that it’s no longer odds-on that we will see a no-deal Brexit following the negotiations, currently priced at 13/10, with odds shortened on some form of Brexit deal being passed in 2019 – priced at 8/15. 

Spokesman Paddy Power said: “BoJo entered negotiations with the EU like a bull in a china shop, but they like that kind of thing in Europe, and he’s already made more progress this week than Theresa May did in her entire tenure.

“Clearly, there’s a long way to go, and a lot of negotiation to be had, but the tide is turning (again) for the odds on a ‘No Deal’ Brexit.”

Interestingly, Paddy Power has continued to offer odds of 2/5 on whether a general election will take place later this year.   

Boris Johnson has said to have ‘put his foot in it’ yesterday, however, following a meeting with French President Emmanuel Macron, who added that the Ireland-Northern Ireland backstop plan – vehemently opposed by BoJo – was somewhat ‘indispensable’ in preserving both political stability and the single market.

Macron did however said that he was “very confident” that the UK would be able to come to an agreement with EU would be able to find a solution to the Irish-Northern Irish border within 30 days ”if there is a good will on both sides”.

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