Betfair is so confident of a "No" vote in Thursday's Scottish independence referendum that it is already paying out to those who have staked money on it.

The online bookmaker says it is paying out a "six-figure sum".

Despite polls ahead of the vote continuing to be close, betting markets have been overwhelmingly in favour of the Better Together camp winning on Thursday.

Betfair said this morning that gambling patterns indicate a 79pc likelihood of a "No" vote.

Despite the odds on "Yes" shortening last week, they have lengthened significantly in the last few days.

Financial markets have appeared to mirror betting patterns in recent days, with both suggesting that the chances of a "Yes" vote are far slimmer than polls suggest.

Betfair's pay-out applies to its sportsbook operation, not the online exchange in which punters bet against each other.

This would mean a £100 bet would return £450 if Scotland votes for independence. Backing "No" would return £127.

“Political bettors have often favoured the exchange as their choice of betting platform and it has historically provided an accurate prediction of political outcomes," said Betfair's Naomi Totten.

"Paying out early on our Sportsbook is testament to the esteem in which we hold the illustrious track record of our Exchange.

David Fuller's view

I certainly hope this is not a case of ‘counting chickens before they hatch’, but betting firms often have a better track record than polls, as I have said before.

A No vote, ensuring that Scotland remains part of the UK, should support the UK stock market and sterling.  Conversely, they would most likely slump on a Yes vote for independence, and this would also create shockwaves beyond the United Kingdom.   

While relief will certainly be expressed by many in the UK if the No vote carries, not least among the many Scots who were not allowed to vote because they do not live in Scotland, I fear that will quickly be followed by an acrimonious period on both sides of the Scottish border.    

You may also be interested in: Do the Scots really want to stop running Britain, by William Dalrymple for The Telegraph.