Chances of 'no deal' Brexit rise past 50% on betting site Smarkets

There is a less than 50% chance of Britain reaching a post-Brexit trade deal with the European Union, according to punters betting on the Smarkets exchange on Thursday.

The odds of Britain failing to agree a a trade deal with the EU before the end of their transition period have risen to 53%, according to Smarkets -- that is up sharply from the 19% probability priced in only a week earlier.

The odds flipped to "no deal" earlier this week for the first time in nearly three months on Smarkets.