Punters gamble on fine wine sales
A service which allows speculators to place bets on the performance of the fine wine industry has been launched.
Liv-ex, the fine wine index, has teamed up with Matchbet, a new online betting provider, which can be used to speculate on a number of markets, such as financials and sports.
Matchbet allows punters to place bets on the level of the Liv-ex 100 Fine Wine Index at month-end.
Bets can be placed on a number of possible ranges for the level of the index, which can either be backed (betting that it will happen) or laid (betting that it will not happen).
The July Liv-ex 100 index was up 0.6% on May but down 18% on the figure recorded in the same month in 2008. Bordeaux accounted for 92% of the turnover, with the 2006 vintage taking 22% of the Bordeaux trade.
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