Gamblers increasingly see Greece staying in the euro region amid optimism a deal can be sealed to keep aid flowing to Athens.
Betfair Group Plc put the odds of Greece not leaving the currency bloc this year at 1/14, meaning a successful 14-pound bet ($22) wins one pound, compared with 1/5 on Monday. Those odds imply a 93 percent chance Greece will keep the euro, Betfair said.
“Punters have clearly made up their mind that Greece will stay in the euro zone, for the remainder of this year at least,” said Naomi Totten, a spokeswoman for the London-based betting company.
Betting markets can provide clues to the direction of events. So certain was Betfair of the outcome of the Scottish referendum last year, it paid out on voters rejecting independence two days before the ballot, even after polls suggesting a tight contest had sent the pound tumbling.
William Hill Plc is offering 1/5 Greece will stay in the euro area in 2015, and 10/3 the country will exit. Paddy Power Plc, Ireland’s largest bookmaker, puts the odds of Greece adopting an official currency other than the euro by the end of 2017 at 4/5, compared with 4/6 on Monday.