Will King Charles III be the last British Monarch? Bookies unveil referendum odds for UK, Canada and Australia

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King Charles III will be crowned as the 13th British monarch in May  - but will he be the last King of the Commonwealth?

King Charles’ coronation is set to take place on May, 6. His ascension to the throne will make him the 13th British monarch, following the death of his mother Queen Elizabeth II who was the longest reigning monarch. While preparations for King Charles to ascend the throne take place, many have begun to question whether or not the monarchy should continue.

A number of political figures from Commonwealth countries such as Australia have hinted that a referendum on whether or not they should abolish the monarchy as their head of state could be imminent.

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Jamaica has been open about its plans to move forward with removing the British monarchy as head of state. Prime Minister Andrew Holness told the then-Duke and Duchess of Cambridge earlier this year "We’re moving on," while they were on the island for the Queen’s Platinum Jubilee. Recent polls suggesting more than 50% of Jamaicans now support the idea, Queen Elizabeth II’s death may have accelerated that process.

With this in mind OLBG have revealed the latest odds for countries likely to have a referendum on the monarch. The most recent odds revealed who was most likely to hold the referendum between Canada, Australia and the UK.

Stephen Smith, a top Australian diplomat, has recently warned it is "inevitable" that the country will abolish the monarchy and King Charles as their head of state. Reports from Al Jazeera said that the debate was reignited for a referendum in Australia following the death of Queen Elizabeth II.

The Accounts for the Sovereign Grant, which funds the monarch and their household’s expenses, released a report last summer revealing the monarchy cost taxpayers £102.4 million during the 2021–22 financial year which is an increase of 17% from the year before.

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So, what are the odds that King Charles will be the last British monarch? Here’s everything you need to know.

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Monarchy Referendum odds

Australia to hold referendum - 8/1

In early 2023, Australia’s Central Bank said that its new $5 bill would feature an Indigenous design rather than an image of King Charles III with it seeming the country may be looking to phase out the British monarchy.

A government funded scheme is making portraits of King Charles III available to all public bodies right across the UK.A government funded scheme is making portraits of King Charles III available to all public bodies right across the UK.
A government funded scheme is making portraits of King Charles III available to all public bodies right across the UK.

Canada to hold referendum - 8/1

A poll released in March 2023 revealed the monarchy’s popularity in Canada has fallen to its lowest level in 14 years, which may lead to Canadian government figures examining the monarchy’s role in the country.

UK to hold referendum - 66/1

The latest betting odds say there’s just a 1.5% chance that the UK will hold a referendum around the monarchy in the next 18 months. According to a 2022 YouGov poll, two thirds of Britons (67%) believe the monarchy should continue, with only 20% saying we should have an elected head of state, showing public support for the royal family to be high.

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