20,000 Futures Contracts On Hagel As Obama VP Purchased On July 20th

20,000 Futures Contracts On Hagel As Obama VP Purchased On July 20th

www.huffingtonpost.com

Intrade.com is one of the offshore entities that allows you to place a wager on countless political propositions and among the popular areas for wagers is who the presumptive presidential nominees will select as their running mate. I always enjoy visiting the site because you get to see how real money is being wagered, rather than the meaningless hot air we get from the talking heads on cable television.

So, it struck me this afternoon when I noticed that a pretty massive wager was placed on July 20 that Barack Obama (D) will select Sen. Chuck Hagel (R-NE) as his running mate.

On that day, it appears that someone purchased a single block of 20,000 futures contracts that the Republican Hagel will become the Democratic vice presidential nominee. The contracts would have cost approximately $13,500 (~$.675/contract), and if correct, the wager will return $200,000.

(visit the link for the full news article)

Now I am not a gambling man, never have been... but I cannot help bust finding this one fascinating.... if only because of the amount of the wager.... somebody is pretty confident.

Wouldn't it be funny if it was Hagel who placed the bet himself... and loses.

www.huffingtonpost.com
(visit the link for the full news article)

[edit on 7-8-2008 by grover]

Would be more funny if it was obama himself that placed the bet. Would be cool to find out who it was. I will have to look at tax records of all these people next year and see who it is if hagel wins the V.P. spot.

If we dont find out until then, Come back to this post after taxes next year and post if you found out anything. I will post if i do.May be nothing, But you never know.

Whoever it was is pretty confident that is for sure... you don't drop thatkind of money unless you know something or are a fool.

Or are very, very rich. I think it's a pretty safe bet, actually.

I think it would be a great choice.

reply to post by Benevolent Heretic


I concur.

Wouldnt it be great to be Obama or the guy he's going to choose as VP right now?


If i was either - i'd run off an place a bet through a third party and make some bookoo bucks

But thats just me

obama wouldnt be that corrupt.