Gambling Web site opens betting on $95 crude
Fri Oct 19, 2007 2:19pm EDT
NEW YORK (Reuters) - A leading sports gambling Web site said Friday it has expanded into the energy arena, opening up betting on how high crude prices will go.
Betting platform BetCRIS.com, which normally focuses on football and cricket, said it is offering 7-to-5 odds that crude will vault over $95 a barrel by the end of the year.
"I have a feeling (oil prices) will continue to cause stress for months and even years to come," said Esteban Siles, a BetCRIS spokesman.
U.S. crude oil prices have more than quadrupled since 2002 to reach a record $90.07 a barrel this week, bringing them close to the inflation-adjusted high over $100 struck in 1980 after the Iranian revolution.
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