What are the odds of a second Brexit referendum?

The odds of Britain going back to the polls to decide whether it should remain in the EU have significantly dropped in the past six months.

On the day Nigel Farage appeared to throw his weight behind a second referendum, bookies said they have slashed the odds to 5/1.

Last January, the odds for holding a second referendum were 20/1, according to Paddy Power.

In October 2017, they’d dropped to 10/1, and again to 7/1 in December.

Now, they’re at 5/1.

The drop in odds comes as the ex-UKIP leader suggested a second vote might be beneficial to the country.

He claimed it would stop the ‘moaning’ from politicians who have not accepted the previous vote.

‘What is for certain is that the Cleggs, the Blairs, the Adonises will never, ever, ever give up’, he said on Channel 5 talk show The Wright Stuff.

‘They will go on whinging and whining and moaning all the way through this process.

‘So maybe, just maybe, I’m reaching the point of thinking that we should have a second referendum on EU membership.’

Arron Banks, the co-founder of the Leave campaign, backed Nigel’s words.

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The businessman suggested Theresa May’s government was ‘backsliding’ on the issue and urged the UK to ‘act radically now’ or it would “sleepwalk into a faux Brexit’.

Rather than the close-call of 2016’s referendum, Mr Banks was insistent the Leave campaign would ‘win by a landslide’ this time around.

‘The only option now is to go back to the polls and let the people shout from the rooftops their support of a true Brexit,’ he continued.

In a rare move for British politics, members of the Labour party and Lib Dems have found themselves in agreement.

Lib Dem Brexit spokesman Tom Brake said: ‘Tony Blair and Nigel Farage aren’t two people I’d normally like to be put in a group with, but on this issue they are speaking sense.

‘But Farage shouldn’t be so confident of winning. People are now far more aware of the costs of Brexit and the fabrications of the Leave campaign.’

While Labour MP Chuka Umunna, a leading supporter of the Open Britain campaign, said: ‘For perhaps the first time in his life, Nigel Farage is making a valid point.’

Lord Adonis said: ‘So Nigel Farage wants a referendum on Mrs May’s Brexit deal. I agree. Bring it on.’

As the political parties argue it out as to which campaign would be stronger second time round, the public is making its own decision.

Data from Paddy Power puts a ‘remain’ vote at 4/7 and a ‘leave’ vote at 11/8.

Prime Minister Theresa May has previously insisted a second referendum would betray voters and would also lead to a bad deal in exit talks.

Her official spokesman said: ‘We will not be having a second referendum.’