Reuters Thursday, 18 May 2017 177 views

UK punters bet on an early exit for Trump

LONDON (Reuters) – British gamblers believe US President Donald Trump is now more likely to leave office before the end of his first term than not, British bookmakers said yesterday, after a week of tumult at the White House.
 

Betfair said that punters had bet more than 5,000 pounds ($6,470) on an early departure for Mr Trump in the hours after it was reported he had asked his then-FBI Director James Comey to shut down an investigation into ties between former White House national security adviser Michael Flynn and Russia.
 

Concerns that businessman and former reality TV star Mr Trump's economic reforms could be slowed and he might even face the threat of impeachment has dented demand for the dollar.
 

On UK betting markets, the odds on Mr Trump failing to see out his four-year term dropped to 5/6 from evens on Betfair, implying a 55 percent chance that he will leave.
 

Betfair was also offering odds of 12/5 percent that Mr Trump would leave office this year, implying a 27 percent chance that he would depart. Betfair said that the odds for such an early departure had never been shorter.
 

Fellow bookmaker Ladbrokes said its odds on the president leaving office via impeachment or resignation before the end of his first term had also shortened in the last week to 4/5 after a flurry of bets.
 

Spokeswoman Jessica Bridge added that Ladbrokes had taken close to 50,000 pounds on various wagers over Mr Trump's future, including whether he would be impeached and the year he might be replaced.
 

“Barely a day goes by without a Trump scandal, but money talks, and punters are becoming increasingly convinced the president could be impeached sooner rather than later,” Ms Bridge said.
 

UK political betting markets have exploded in recent years, with millions wagered last year ahead of surprising results of Britain's referendum on EU membership and Mr Trump's election, which was the most bet-upon political event ever.

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