Grexit odds have shortened again

If Alexis Tspiras is a betting man he might be hoping for better odds than these. Bookmaker Paddy Power now believes there is a 40 per cent chance of Greece leaving the Eurozone this year. 

 

The odds of a Grexit have been shortening across the board. Paddy Power has it priced at 6/4, while William Hill has actually stopped taking bets on the subject because “no one is interested in backing Greece to stay”.  Before it closed its markets, the odds had shortened from 5/1 to 3/1. 

 

Betfair meanwhile has 8/11 odds that Grexit will occur before Brexit, though the deadline for this to occur is 2017. 

 

Betting patterns also suggest there is a 38 per cent chance of the country defaulting on its debt this year, with a 29 per cent chance of another General Election beind held before Christmas. 

 

A spokesperson for Paddy Power said: “There was a hope of Greece lightening up but with the short odds on Grexit and on a default it doesn’t look as though it will be happening anytime soon.”