Gas Price Wagers at pinny

No brainer to bet yes on 2.40 avg for reg by new years. The current avg is 2.30. You don't need to see much of a move at all to get there.

People drive less after Labor Day so the demand will decrease. The peak demand is between Mem Day and Labor Day, so watch out.

agreed cincy, but if oil prices keep going up it won't matter how much people travel

Got to remember that a cold fall/winter season will drive up oil prices as well. Even though it's heating oil, gas prices move with oil demand of any kind.

Vaulted Treehouse said:

agreed cincy, but if oil prices keep going up it won't matter how much people travel

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<table border="0" cellpadding="2" cellspacing="2" width="650"> <tbody><tr><td class="wht-title" bgcolor="#000066" valign="top" width="14%">Sun 8/7</td> <td colspan="4" class="wht-title" bgcolor="#000066">US gas average of $2.40 broken by 1/1/2006
</td> </tr> <tr><td colspan="5" class="wht-title" align="center" bgcolor="#999999">Maximum Wager: 200.00 USD</td></tr> <tr bgcolor="#eeeeee"> <td class="main_body_blk">12:00 PM</td> <td class="main_body_blk">101 Yes</td> <td class="main_body_blk"> +155</td> <td class="main_body_blk" width="120"><input name="radio00" value="riskType" checked="checked" type="radio">Risk <input name="radio00" value="toWinType" type="radio">To Win</td> <td width="77"><input name="C0P0" size="8" type="text"></td></tr> <tr bgcolor="#eeeeee"> <td> </td> <td class="main_body_blk">102 No</td> <td class="main_body_blk"> -170</td> <td class="main_body_blk" width="120"><input name="radio01" value="riskType" type="radio">Risk <input name="radio01" value="toWinType" checked="checked" type="radio">To Win</td> <td width="77"><input name="C0P1" size="8" type="text"></td></tr> <tr> <td class="wht-title" bgcolor="#000066" valign="top" width="14%">Sun 8/7</td> <td colspan="4" class="wht-title" bgcolor="#000066">Gas avg hits $3 in NYC or Los Angeles by 1/1/2006?
</td> </tr> <tr><td colspan="5" class="wht-title" align="center" bgcolor="#999999">Maximum Wager: 100.00 USD</td></tr> <tr bgcolor="#eeeeee"> <td class="main_body_blk">12:00 PM</td> <td class="main_body_blk">103 Yes</td> <td class="main_body_blk"> +1400</td> <td class="main_body_blk" width="120"><input name="radio10" value="riskType" checked="checked" type="radio">Risk <input name="radio10" value="toWinType" type="radio">To Win</td> <td width="77"><input name="C1P0" size="8" type="text"></td></tr> <tr bgcolor="#eeeeee"> <td> </td> <td class="main_body_blk">104 No</td> <td class="main_body_blk"> -1900</td> <td class="main_body_blk" width="120"><input name="radio11" value="riskType" type="radio">Risk <input name="radio11" value="toWinType" checked="checked" type="radio">To Win</td> <td width="77"><input name="C1P1" size="8" type="text"></td></tr> <tr> <td class="wht-title" bgcolor="#000066" valign="top" width="14%">Sun 8/7</td> <td colspan="4" class="wht-title" bgcolor="#000066">US gas avg. of $2.35 broke by Labor day (9/4/06)?</td> </tr> <tr><td colspan="5" class="wht-title" align="center" bgcolor="#999999">Maximum Wager: 200.00 USD</td></tr> <tr bgcolor="#eeeeee"> <td class="main_body_blk">12:00 PM</td> <td class="main_body_blk">105 Yes</td> <td class="main_body_blk"> -200</td> <td class="main_body_blk" width="120"><input name="radio20" value="riskType" type="radio">Risk <input name="radio20" value="toWinType" checked="checked" type="radio">To Win</td> <td width="77"><input name="C2P0" size="8" type="text"></td></tr> <tr bgcolor="#eeeeee"> <td> </td> <td class="main_body_blk">106 No</td> <td class="main_body_blk"> +180</td> <td class="main_body_blk" width="120"><input name="radio21" value="riskType" checked="checked" type="radio">Risk <input name="radio21" value="toWinType" type="radio">To Win</td></tr></tbody> </table>

Gas is $2.30 now.

So the chance of a 5 cent rise in prices by Labor Day (less than a month away) is VERY high (witnessed by the -200 price), but the chance of it rising another 5 cents in THREE months is so low you get +155 for it. Pinny is saying what I am saying - that gas prices should rise by 5 cents until Labor Day, but it won't rise another 5 cents after that.

Hey, if you guys think I am wrong and you have your own reasons and the lines are off, then go for it - take the +155 and best of luck.

What id the determinant???



average, where?? does this include tax?? who determines the average?? CNN, FOX, REUTTERS, RON JEREMY??

Haha....Gotta love the fact we are having this discussion in a wagering sense. What a disturbed lot we are. FWIW, I'm putting my money on the "under"

<TABLE cellSpacing=0 cellPadding=0 width=580 border=0><TBODY><TR><TD style="PADDING-TOP: 10px" vAlign=top>Good publicity for Pinnacle; didn't realize they were the largest online betting site.


Traders not only ones gambling on gas?

<!--startclickprintexclude--></TD></TR><TR><TD vAlign=top><!--endclickprintexclude-->Largest online betting site will let gamblers wager on whether gas will reach $3 before year's end.
August 5, 2005: 4:15 PM EDT
<!--startclickprintexclude--></TD></TR><TR><TD class=storytext style="PADDING-TOP: 20px" vAlign=top><!-- CONTENT --><!--endclickprintexclude--><!--startclickprintexclude--><TABLE style="PADDING-LEFT: 10px" cellSpacing=0 cellPadding=0 width=220 align=right border=0><TBODY><TR><TD name="list"></TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>

NEW YORK (Reuters) - The largest sports betting site on the Internet expanded Friday into the energy arena, offering gamblers a chance to bet on soaring U.S. retail gasoline prices.
<!--startclickprintexclude--><!--endclickprintexclude-->"Record gasoline prices are affecting everyone, so why not let people bet on it?" said PinnacleSports.com spokesman Kyle Fratini. "We've been thinking about this for months."

<!--startclickprintexclude--><!--endclickprintexclude--><SCRIPT language=JavaScript><!--var clickExpire = "09/04/2005";//--></SCRIPT>The online betting site, which normally focuses on mainstream sports like football, basketball and soccer, is giving gamblers a chance to bet on whether gasoline will reach $3.00 a gallon in New York or Los Angeles by the end of the year, with 30 to 1 odds.

<!--startclickprintexclude--><!--endclickprintexclude-->On Friday, average gasoline prices in Los Angeles were a lofty $2.616 a gallon, up more than 20 percent from last year and among the highest in the nation, according to the AAA's daily survey.

<!--startclickprintexclude--><!--endclickprintexclude-->AAA's survey will be used by PinnacleSports.com as the benchmark for its bets.

<!--startclickprintexclude--><!--endclickprintexclude-->Nationwide, gasoline prices are zipping along just over $2.30 a gallon, within 2 cents of the record peak hit July 14, as oil refiners are forced to pay up for record world crude oil prices of over $60 a barrel.

<!--startclickprintexclude--><!--endclickprintexclude-->Also up for wager: Will the average price of gas in the United States reach $2.35 per gallon by Labor Day? Will the average price of gas in the U.S. reach $2.40 per gallon by the end of the year?

<!--startclickprintexclude--><!--endclickprintexclude-->Fratini said maximum bets on gasoline will be around $500, though the site allows for bets in the thousands of dollars for sports like football.

http://money.cnn.com/2005/08/05/news/funny/gas_betting.reut/index.htm?cnn=yes

Keep an eye open for states implementing new gas taxes as well. Washington just tacked on 3 cents more per gallon.

Vaulted Treehouse said:

No brainer to bet yes on 2.40 avg for reg by new years. The current avg is 2.30. You don't need to see much of a move at all to get there.

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Up to 2.339 in 3 days. Like printing money.

Here in Miami on vacation, think I am going to spend $1,000 in fuel by the time I get back home.

*^*(*y^*%*%%%*(*(*(&(

:CUSSING: :CUSSING: :CUSSING: :CUSSING:

Vaulted Treehouse said:

Up to 2.339 in 3 days. Like printing money.

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Did you place a wager? I hope you hit it for the max and get paid. Good luck.

I stayed away and its off the board now.

Vaulted Treehouse said:

Up to 2.339 in 3 days. Like printing money.

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This new Ethanol thing might decrease demand too though. I dont think its as much of a 'no-brainer' as you think. But hey, I have called them wrong before.

cincy_hugg said:

Did you place a wager? I hope you hit it for the max and get paid. Good luck.

I stayed away and its off the board now.

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Yes, I hit it more than once. Oil up 1.54 today. Again, you have until Jan 1 for this. That's a long time....They took down this prop today but it will be back.

just went to visit my girlfriend in the hospital in tampa. when i left, i noticed gas at $2.25 at a raceway. when i came back about three hours later, the price jumped to $2.40.:monsters-

Love that Hawk, I have a little at over 3.00 gas in LA or NYC. Hell they are already at 2.65 in LA. A bit of a spike and you're there.

hawkeye171 said:

just went to visit my girlfriend in the hospital in tampa. when i left, i noticed gas at $2.25 at a raceway. when i came back about three hours later, the price jumped to $2.40.:monsters-

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WOW!!!!

RACEWAY is about the cheapest place to buy gas in the Tampa area too!!

Fishhead said:

WOW!!!!

RACEWAY is about the cheapest place to buy gas in the Tampa area too!!

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Premium gas here in vegas already at around $2.70 up in summerlin.

I believe this is the official source of Pinnacle's info:
http://198.6.95.31/

we're up to $2.339 for regular