Odds of second EU referendum slashed as Labour opens door to vote on Brexit deal

Bookies have slashed the odds of a second EU referendum after Labour announced that it was not ruling out another vote on Brexit, including the option of Remain.

BetFred is offering odds of 2/1 of a second Brexit vote before the end of 2019, down from 3/1 in March this year.

Spokesman Pete Spencer told Yahoo News UK: “The odds have shortened considerably this week. A year ago we weren’t even offering odds on a second vote as it wasn’t an option.”

William Hill is offering odds of 13/8 that there will be a second EU referendum by the end of 2020, and BetFred has 2/1 on there being a second vote on Brexit.

It comes as Labour officially announced that it was not ruling out a vote that could see Britain overturn Brexit and stay in the EU.

Shadow Brexit secretary Sir Keir Starmer told the Labour Party conference in Liverpool this week: “It is right that parliament has the first say but if we need to break the impasse, our options must include campaigning for a public vote and nobody is ruling out Remain as an option.”

Theresa May has repeatedly ruled out holding another referendum on Brexit.

BetFred has also shortened its odds on an early general election taking place in 2019, falling to 2/1.

Mr Spencer said: “These odds have also shortened dramatically this week because of the pressures on the Prime Minister over Brexit, and with the Labour Party conference increasing their profile.”

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Jeremy Corbyn used his keynote speech at the Labour conference to call for an early general election in the event of the PM failing to secure a satisfactory Brexit deal.

He told delegates: “As it stands, Labour will vote against the Chequers plan, or whatever is left of it, and oppose leaving the EU with no deal.

“It is inconceivable that we should crash out of Europe with no deal – that would be a national disaster.

“That is why if Parliament votes down a Tory deal or the government fails to reach any deal at all we would press for a general election.”