Odds on Hurricanes Lead Internet Betting Surge

By Michael Santo
Contributing Writer, RealTechNews

If you want to make some big money, bet against a category 3 or higher storm hitting the U.S. this season. Currently the odds are 6-1 if you want to make that bet, while they are just about dead even that Florida will be hit by a big hurricane this year. Last year’s storms has led to a large number of bets on Internet gambling sites on this season.

The intensity of the last two Atlantic hurricane seasons has triggered a mini-frenzy this year of storm-related bets online, where gamblers can make so-called “proposition wagers” on anything ranging from “will life be found on Mars?” to “who will win the next presidential election?”

“Six hundred was the last I saw, 6 to 1 odds or $6 paid for every dollar bet. Those are actually great odds considering the fact that in the last 16 years, there’s only been six years in which a Category 3 or higher has hit the United States,” said (Christopher) Costigan, of the Gambling911.com Web site, which reports on the online betting business. Source: Reuters

We Say: Costigan is apparently gambling that oddsmakers are wrong, as he lives on Miami Beach. Critics have called the gambling industry insensitive for offering odds like these … and it is … but it is also true that some people will bet on anything given the chance.