by Wolf Richter
Wolf Street
Bookies turn into goofballs as financial carnage breaks out.
The omniscient bookies, who correctly predicted the vote in the Scottish independence referendum, have always favored the Remain campaign. Despite numerous polls to the contrary over the past few days, they upped the Remain vote’s chances of victory from 60% to 82% – near certainty!
And markets drank their Kool-Aid. All of it. And it tasted soooo good.
Based on an electorate of 46.5 million people, turnout at the referendum was 72.2%, a stunning figure by US standards. At 6:40 AM London time, the Leave vote wins with 51.9%, and the Remain vote loses with 48.2%.