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News
Online betting service unveiled for fine wine prices
Fine wine exchange Liv-ex has entered into a partnership with Matchbet allowing people to place bets on the level of the Liv-ex 100 Fine Wine Index at the end of each month.
The new online betting market enables users to bet on the future direction of wine prices without taking delivery of the goods.
Participants can either offer their bets at their own proposed odds, or take the current market odds.
"We believe that Liv-ex users will benefit from an ability to both hedge, and speculate, on Liv-ex price indices," said Ben Seifert, founder of Matchbet.
"The market has just been launched, but already there are significant betting opportunities. I believe that the market will quickly develop into a major companion site to Liv-ex for all those seriously interested in the wine industry."
To bet on the level of the index at the end of August, or any other month, visit www.matchbet.com. A step-by-step online tutorial is also available under the help section on Matchbet’s site. You need to be registered as a user to bet, but you can view the market by registering as a "guest".
Patrick Schmitt, 13.08.2009