Student bet his entire student loan on the referendum result

A student who bet his entire student loan on the UK remaining in the EU has said he "thought it was a safe bet" at the time.

Economics and Finance student Peter Johnston bet his £2,000 student loan on Remain, thinking it was a sure thing.

Peter, who was inter-railing around Europe at the time, then had watch in hungover-horror as the results came in.

Peter lost £2,000 because of Brexit. Farage, meanwhile, has gained a 12% pay boost as he's paid in Euros.

"100% sure"

Peter, who studies at Strathclyde, said he never usually bet more than a tenner on anything, but since it was such a sure result, and he had a backlog of student loan at his disposal, he thought he'd take the bet.

“I put it all on a Remain vote. I was 100 per cent sure it would be Remain," he told the Sun. "I thought it was a safe bet – but obviously not.”

If he had won the bet, he would have used the money to go traveling. Unfortunately, as the results came in he realised the mistake he'd made:

“Instead of being a few hundred up I was £2,000 down."

“I was really hungover at the time which made it all the worse. I couldn’t believe it.”

“I was actually still up partying in Croatia looking at the votes coming in that morning after the referendum."

“I was obviously gutted with the result – apart from the money I’d lost I also really wanted us to stay in the EU."

“It’s a nightmare. I’m totally devastated.”

If Peter had won the bet, at 1/7 odds, he would have won £286 and the UK would have remained within the EU.

Instead, he lost his maintenance loan for the term and had to cancel further travel plans. But Peter's bet was by no means the biggest bet lost betting on Remain.

Winners and losers

The biggest bet placed on Remain was £100,000, according to bookmaker William Hill. A woman from London placed the bet, which would have seen her get a £40,000 profit if she had won.

Meanwhile, the biggest bet for leave was ten times smaller at £10,000, and made the woman who placed the bet a profit of £27,500.

It was her first ever bet.

The biggest single bet placed on Remain was 10 times larger than the biggest bet on Leave, according to bookmaker William Hill.

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