According to Farage, pro-Europeans such as former UK Prime Minister Tony Blair "will never ever ever give up". "For perhaps the first time in his life, Farage is making a valid point".
Explaining his comments to The Independent, Mr Farage said: "I'm considering the possibilities that this might have to happen, and I don't think Leavers should completely ignore the fact that it could. The cabinet is solidly Remain and this fight will have to be re-run".
Claiming Leave would "win by a landslide", Mr Banks said a second poll would force Prime Minister Theresa May to "implement the will of the people".
"Such a second referendum would undermine the fabric of our democratic principles and would weaken the clarity and effectiveness of democratic decision".
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But the reality is Mr Farage was feeding his own ego.
Farage's readiness to accept a second European Union referendum quickly became a cause for celebration among pro-EU campaigners, who who hold out hope that public opinion is turning away from leaving the European Union, as a result of its economic risks.
"It would be naive to allow Remain organisations to build up war chests, get their campaigns going, get their negative messages out while we Leavers continue to be fractured, splintered, not campaigning, not pressurising MPs".
"I do agree with Mr Farage that if we had another referendum it would result in an overwhelming vote to leave". Polls show a majority do want to have a vote on the deal May brings back from Brussels, but it's not clear how an election-weary public would react to being hauled back to the voting booths again.
Senator Richmond said: "When the British people voted in 2016 they were given a choice of a clear option of staying within the European Union and continuing with the prosperous status quo or a vague utopian vision pushed by the Leave campaign that the United Kingdom would be better off outside the EU. Blair is calling for it already and Labour is moving towards putting it in its manifesto".