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Bookmaker Coral closes book on Queen abdicating

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A U.K. bookmaker has closed the book on whether Queen Elizabeth II will step down this December, after a suspiciously large number of people bet that she would announce her abdication in her Christmas speech.

Coral froze betting on Wednesday, sparking interest across social media that the Queen, who has been ruling for 62 years, would relinquish the crown to her heir, Charles, Prince of Wales.

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The betting company said it started getting suspicious after an initial £200 bet towards the abdication announcement led to a flurry of further interested gamblers placing money towards the 10-1 odds.

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However, James Brooke, managing director at public relations (PR) agency Rooster, said the move by Coral was "probably a PR stunt."

"Realistically, the Queen would never use the Christmas speech as a way to announce her abdication... To drop that kind of bombshell to the nation is not appropriate for Christmas day," he told CNBC.

Every year, without fail, the Queen delivers her royal Christmas message to the British public, discussing the year's memorable events.

This isn't the first time Coral has had to halt its bets when taking bets on the Queen abdicating the throne. In January 2014, Coral was forced to suspend bets, after an influx of bets in the Windsor area was sparked after a £200 wager was made.

For two years in a row, Coral has had suspended bets that were based on what color the Queen's hat would be at the royal horseracing event 'Royal Ascot' – Europe's best attended racing festival.

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Discussing betting predictions on the Queen's future, a PR spokesperson for Coral, Nicola McGeady said: "Throughout the year there has been major speculation about the Queen's future but today's gamble has really caught us by surprise."

"As far as we are concerned there's no smoke without fire when bets like this come through all in succession, so we have decided to be safe rather than sorry and pull the plug on the market," McGeady added.

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As the Christmas speech is pre-recorded each year, McGeady said to CNBC "all this suggests that maybe someone knows something we don't."

When asked for a response to the suspension, The British Monarchy's official press office declined to comment.

- CNBC's Phill Tutt contributed to this report