Bet On Irish House Price Crisis

Economic performance is no longer the domain of Stock brokers or City Slickers, bookmakers Paddy Power keen to expand their customer base, are offering a gamble on the percentage by which Irish house prices will drop in the next year according to Permanent TSB/ESRI.

Offering this gamble in their home market it could be argued that Paddy Power are offering punters the opportunity to soften the economic squeeze by actually forecasting how gloomy it will be and benefitting from it financially. These guys are all heart! They'll even give you a Free £50 bet to get started!.

Claim Your Free £50 bet with Paddy Power 

Whilst figures confirmed yesterday that the British Economy has officially come out of recession with reported growth of 0.1% last month, the Irish are still flailing in an economic quagmire as a result of the global mortgage/banking crisis in 2009.

A gamble of this nature requires careful research and study of the markets which may not suit all, although bread and butter to city boys.

Background facts indicate that in June 2009 40% of the percentage of house price escalation that had occurred in Ireland during the boom years of 2001-2007 had been lost.  In August 2009, when prices globally were beginning to recover, the average house price in Ireland was 235,260 euros which was a reduction of 13% in a year and 24% lower than the economic peak in 2007.

The Irish government has chosen not to take advantage of the EU's 200 billion euros stimulus package opting for an anti keynesian approach of balancing the budget, which is not filling analysts or home owners with optimism.

An intriguing challenge to those not risk averse and economically savvy, more than anything this opportunity shows bookmakers are still extending their markets across the social and economic spectrum

2010 Irish House Prices Odds

Odds plus a host of Novelty Betting Opportunities courtesy of Paddy Power

0.01 - 3.00%  Decline 12/1 
3.01 - 6.00%  Decline 6/1 
6.01 - 9.00%  Decline 10/3
9.01 - 12.00%  Decline 15/8 
12.00 - 15.00%  Decline 3/1 
Over 15% Decline 5/2

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