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How can you take a bet against the Euro ?
slingshot2000 - 19/5/12 at 10:35 PM

I am not a betting man, but the more I hear and read abpout the Euro and the Greeks, I am considering having a gamble that the Greeks will soon be back using their Drackmas (? spelling ).

Regards
Jon

ashg - 20/5/12 at 06:22 AM

i thought a bookie will take a bet on anything as long as they could work out the odds.

ReMan - 20/5/12 at 07:38 AM

I am a betting man, occasionally.

You'll find this under the politics sections of the online bookies, but they should also thake the bet in a shop.
http://www.paddypower.com/bet/novelty-betting/current-affairs/european-union

iank - 20/5/12 at 07:48 AM

Betting against shares is called "shorting", but it turns out you can do the same with currency.
This game isn't really designed for amateurs as it's the way the big boys make their billions, and you can lose a theoretically unlimited amount if the euro sky-rockets.

http://www.investmentu.com/2010/May/how-to-short-the-euro.html

emwmarine - 20/5/12 at 08:26 AM

quote:
Originally posted by slingshot2000
I am not a betting man, but the more I hear and read abpout the Euro and the Greeks, I am considering having a gamble that the Greeks will soon be back using their Drackmas (? spelling ).

Regards
Jon


You are too late. "the more I hear........" any bank or hedge fund with that view will have been offloading euro instrument and currency for months and years hence the move from 1.11 to 1.25 over the last 6 months. it would have been a greater movement but Sterling is also a basket case.

If your cash is already in sterling then you have already 'bet against' the euro. If you felt the dollar had a medium term upside then you could move into US stocks or US priced Gold.

iWeb share dealing (Halifax) allows you to buy Nasdaq stock and does the currency conversion automatically at good rates.

If you believe that Greece and others will leave the euro medium term then you could do what many hedge funds have been doing and quietly investing in German property and stock as there will be an appreciation in whatever currency Germany stays in as others leave. The value of the euro reflects the situation in Greece, Ireland, Spain, Portugal and Italy. If a currency euro bloc is left of Germany, France and benelux it would have an immediate 30 - 40% appreciated.

Gambling at the bookie on this is daft making a considered investment in German property / stock at a point where the euro is at its lowest might be a sensible course.

ReMan - 20/5/12 at 08:50 AM

If I understood the question he was talking of a bet, like a tenner?
Not a remortgage for an index linked hedge funded spread bet on the global market?

David Jenkins - 20/5/12 at 11:40 AM

I used to test spread-betting software for a living... one day I put a bet on the FTSE index using test Monopoly money (i.e. funny money, not real money). With a £100 bet I had made £2000 by the close of trading that day. Next morning when I came into work I was £5000 down...

Spread betting is for those folk with tons of money and HUGE testicles!