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Thursday, May 10, 2012

Ladbrokes Suspends Bets On Greek Exit

Ladbrokes, the UK betting group, has this morning suspended betting on Greece exiting the Euro by the end of the year.

A Ladbrokes spokesman told the Guardian that they took the decision after a steady stream of bets from punters, looking to profit from a Grexit. Ladbrokes had been offering 4-6 yesterday, but cut it to 1-3 this morning. He said:
"While we're not sure what is going on in Greece, it is safer for us to suspend betting rather than keep cutting the odds."
Ladbrokes will pay up on bets already placed, if there is an official government statement announcing the intention this year to leave the Euro.

Rather ominously for Greece, the Olympic flame was blown out this morning just after it had been lit at Olympia!

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