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tuggybear

Irish Bookies Are Taking Bets On A British Recession

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Paddy Power, the largest bookmaker in Ireland, is taking bets on the British economy falling into a recession this year.

The bookmaker puts the odds of the nation facing two consecutive quarters of contraction at 5-2, meaning a successful 2-pound ($4) bet would yield a profit of 5 pounds, Dublin-based Paddy Power said in an e-mailed statement today. It set odds of 1-4 of the country avoiding a recession.

Former Bank of England policy maker Charles Goodhart said today that the U.K. faces "quite a recession" as consumer spending slumps. Policy makers left the benchmark interest rate at 5 percent today after inflation quickened to 3.3 percent in May, the fastest pace in at least 11 years.

"Betting on the recession could be only the way anyone's going to make some money in the months ahead," Darren Haines, a spokesman for Paddy Power, said in the statement.

:Link : http://www.iht.com/articles/2008/07/10/business/10bet.php

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2 quarters= 6 months

aug sep oct nov dec=5 months

how is it possible to record 6 months negative growth when only 5 months remain (assume figures for july are released in august) in 2008?

bookies, don't you just love em?

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Guest Bart of Darkness
meaning a successful 2-pound ($4) bet would yield a profit of 5 pounds

Rumours of a white haired man with dark, beetling eyebrows making an online bet of £100,000,000 are entirely false.

ea_alistair_darling.jpg

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  • 396 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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