Heatwave Betting: Will you back record temperatures this summer?
As Britain swelters, it might pay to stay inside in the shade and have a bet on this summer's top temperatures, says Max Liu as he weighs up the latest forecasts and betting odds...
"On the Exchange, there's the summer top temperature market, where 90 to 94 degrees Fahrenheit is the current favourite at [1.65]. There's scant liquidity in the market as yet, but that drought probably won't last... "
Are you about to go on holiday somewhere hot in the next few weeks? If so, you might be having second thoughts as the Met Office say the UK heatwave is set to continue for another fortnight. Yes, that's right, the sweltering temperatures we've been experiencing are not going anywhere fast.
Betting on the heatwave
As well as providing a go to topic of conversation, the British weather is a good opportunity for betting. At Christmas, you can bet on the snow, while in the summertime you can win money wagering on the top temperatures. This scorcher of a July, there are plenty of ways to profit.
On the Exchange, there's the summer top temperature market, where 90 to 94 degrees Fahrenheit is the current favourite at [1.65]. There's scant liquidity in the market as yet, but that drought probably won't last and it's worth looking at the history of British summertime, when weighing up a punt...
Are we experiencing record temperatures?
Not quite. The current temperatures across the UK, in the mid to late 20s, are some way off the record-breaking 101.3 that was recorded in Kent in 2003. On Betfair, 100 or higher is [9.4]. On Sportsbook, meanwhile, a record temperature this summer is 4/1.
Mind you, last month was the driest June on record in south-east and central southern England, which is why people are being urged not to conserve water. So be sensible - no hosepipes, no long showers and always keep a bottle of water with you when out and about.