Grexit - Sportsbooks Offer Betting Options On Greece Leaving The EurozonePublished July 1, 2015 by Vlad G
Online bets tend to cover various situations where the results are unpredictable and the Greece issue is now on the list.
The talks regarding Greece and its future in the Eurozone are getting heated and the future is yet unclear. Sportsbooks didn’t waste any time to get in on the action with the so called Grexit and while the odds of Greece still keeping the Euro as its only currency have improved since earlier this year, the odds are not in its favor.
2-to-1 odds for Greece to leave
Leading bookmakers stopped taking bets on Greece being the first country to ever leave the Eurozone about a month ago but this didn’t really affect the demand for the wager. Prediction market sites allow bettors to place wagers against each other and the sites can use this information to offer odds and the debate is getting stronger.
Some sites have a fairly wide range of probabilities which can be between one or two points and go up to even 20 percent for Greece leaving by the end of 2015. Almost $200,000 bets have been placed at Betfair alone, while the actual sportsbook odds give punters 2-to-1 odds on the official website and it is joined by other brands.
This is an improvement for Greece compared to the 11/10 betting odds offered earlier this year where punters would almost get even money.
More Greece betting options
And bookmakers don’t just focus on Greece having to leave the Eurozone this year and there are actually betting option that cover different aspects as well. One of the most popular is that Greece will have another official currency by the end of the year 2017, with 11/10 odds or 48% probability. Another option is that Athens will have to default on the debt by the end of 2015, not necessarily forcing an exit. This has a 45% chance of happening according to the betting lines.
William Hill stated that it stopped accepting bets on the matter because quite a lot of people are likely to have more information on the matter.