Bodog Sportsbook Offers Odds On Ubs Demise

Wednesday May 07, 2008

Odds makers creativity reached its climax as Bodog Sportsbook offered odd on UBS and other major financial institutions possible demise within the first half of 2008.

"Which financial services company/bank will be the next to shut down operations or be sold?" Asks Bodog, offering odds on UBS's demise at 6/1.

The Zurich-based bank announced Tuesday it will sell $15 billion in Alt-A and subprime assets to Blackrock and will cut up to 5,500 jobs within the next 12 months, 2,600 of which in the investment banking branches in London and New York.

The news follow the announcement of a first-quarter net loss of $10, 99 billion.

Offering odds on major financial institutions demise is the direct outcome of the credit crunch and its impact on odds makers wicked creativity.

Other demise odds are as follows: citigroup 4/1, Goldman Sachs 3/1, Merrill Lynch 6/1, Lehman Brothers 5/4, Barclays Capital 13/1 and Morgan Stanley 15/1.

The good news is that hardly anyone can go broke betting on these odds; Bodog placed a $50 cap on these business props.