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MSE News: Volcanic ash - should you bet or get insurance?
Former_MSE_Guy
Posts: 1,650 Forumite
This is the discussion thread for the following MSE News Story:
"A bookie offering up to 25-1 that airports will be closed says it's a way to hedge your bets against cancelled flights ..."
"A bookie offering up to 25-1 that airports will be closed says it's a way to hedge your bets against cancelled flights ..."
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PADDY POWER VOLCANO BETTING ONLINE 7.36am "Sorry, we currently do not offer betting on Volcano Betting" For the price of an airport lunch it was a good bet. (We only bet on the grand national so it must have been good). Think Paddy Power backed a SURE THING coming first in the PUBLICITY STAKES.0
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One thing about this, the airport must close for an hour for both departing/landing flights. I think there was at least one case during the disruption where this was not the case.0
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One thing about this, the airport must close for an hour for both departing/landing flights. I think there was at least one case during the disruption where this was not the case.
Surely you're unlikely to have a significant delay if the airport is only closed for less than an hour? Or are you referring to it not being closed for landing?0 -
Travel insurance can cover more than just the holiday price though. if something goes wrong once your in the other country, like lost luggage, plus don't you need to place a wager for flights in and the flight out.Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0 -
These are the T&C's from Paddy Power: Applies to the airport having an unscheduled closure (no flights allowed to land or depart) for at least one hour on the chosen date. Must be confirmed that closure is due to volcanic ash by an official airport spokesperson.DrScotsman wrote: »Surely you're unlikely to have a significant delay if the airport is only closed for less than an hour? Or are you referring to it not being closed for landing?
Some of the odds down there are around 10/1 mark. I'm not surprised the insurers want to bail out of cover for that. Typical holiday of around £1000 and some single trip premiums of around £10 puts it at 100/1 for them.0 -
I'd bet on GLA or Belfast International- they seem most affected so far.0
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This thread reminds me of the Simpsons episode where Ned Flanders' wife says "Ned doesn't believe in insurance. He sees it as a form of gambling."
I wonder if the bookies will start giving individual punters odds on their house being burnt down/burgled/hit by a tornado? Given the size of my premium, they could give the insurers a run for their money...0 -
Sounds quite a novel approach.
Why stop there though?
How about bets on train delays/motorway holdups/ferry crossing cancellations/government doing something sensible etc
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For new customers, they match your first bet upto £50 with a free bet so you could use this BOGOF to 'insure' your return journey.
Plus if you sign up through Quidco there is £20 cashback.
And you could end up in the situation where your flight isn't affected but the airport was closed for an hour so you get payed out anyway.
If anyone is planning to do this feel free to pop over to the GIOL board to get your figures checked.:)
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