How did the Brexit Affect the Australian Bookmakers?
The Brexit is now a fact, and the shell shocked Aussie bases bookmakers and sportsbetting operators are starting to count the losses and the cost of the Brexit. After the United Kingdom’s vote has passed for the UK to leave the EU, the shares of all major wagering websites suffered from a blow during the weekend.
United Kingdom based companies such as William Hill and Ladbrokes who operate in Australia have also suffered from sharp falls in the price of their shares as the entire market went straight to panic mode following the Brexit. The shares of Ladbrokes, the UK giant, dropped almost 12% with William Hill suffering from a 15% drop in the share price.
Despite the loss in share prices due to the panic caused by the Brexit, there are some bookmakers that cashed in some profits from the Brexit. This is due to the profits counted from the Leave Vote bet, which was the outsider wager. Some bookies had the Leave vote as high as nine to one, with a decision to remain in the EU as the more likely bet with a one to six odds. For example, the UK betting company Betfair, stated that more than 63 million UK pounds has been traded on the result of the referendum, which made this the biggest betting ever with a political background.
Voting took place last June on a public referendum for the UK to remain or leave the EU. There was a strong public feeling that the public is going to vote to remain in the EU. On the other hand, even the most hardcore campaigners for independence were surprised that the Leave vote was victorious with a score of 52 to 48 percent.
Overall, the wagering companies had it wrong, as both bookmakers, Ladbrokes and Willam Hill altered the markets numerous times during the voting and the run up to the final result.
UK For a Second Referendum, Maybe Scotland?
The hassle around Brexit is not over yet, as Britain and Europe part ways, there are many voices in the UK that are calling for a 2nd referendum. This is why Aussie wagering sites are starting to offer bets on this next referendum.
It seems after the UK left the EU, it has sparked many stipulations. As there are voices that call for another Referendum for Scotland to leave the UK, especially after Britain left the EU, which was one of the main reasons Scotland stayed in last vote. This is why we might have a 2nd Referendum for Scotland.