Nearly 130 independence referendums have been held worldwide since the Second World War. The political relevance of independence referendums has transformed them into strategic instruments serving a broad range of purposes beyond mere access to independence and statehood. As demonstrated in this chapter, the combination of two factors, namely the degree of consensus and the timing of a referendum, produces four types of function of independence referendums. Leverage referendums aim to put the parent state under pressure; signalling referendums are designed to legitimate the secessionist process; decision referendums provide a mechanism for resolving territorial conflicts; and ratification referendums confirm the new status of the secessionist territory. As shown in this chapter, these four modalities influence access to statehood, turnout and support levels, and recognition by third states.