Brexit affects Sporting Index
27 Jun 2016
It was a painful night for the firm as its clients consistently favored Leave throughout the campaign, resulting in a six figure loss for the company.
Sporting Index was the first bookmaker to offer a market on turnout and the eventual 72% figure contributed to the loss as spread bettors clearly believed voters would turn out in force.
Ed Fulton, political spokesman for Sporting Index, said: "We were getting ready to pop the champagne corks at 10 p.m. when a Remain win looked highly likely, but by midnight the bottles were shoved back in the fridge.
"When we got to 4 a.m. it was head in hands time on the trading floor and the punters have beaten us fair and square here. On the bright side, the volume of bets for the referendum was fantastic and we look forward to round two against our customers in the U.S. presidential election."