The science of odds – gambling on global warming

 

Home > News > 15 May 2007

 

Online gambling service, USBet.com, is offering people the chance to wager on global warming issues. This whacky form of wagering is being called “pop culture gaming”.

The idea was first triggered by MIT meteorologist, Richard Lindzen, in 2004, when he stated that he would bet money that global average temperatures would cool back down in 20 years. Ever since, scientists have been challenged in a series of internet conversation to bet on future climate-change issues.

USBet.com spokesman, Reed Richards, explained that the odds were created by a dozen analysts of global warming scientific studies, and that the unpredictable side of climate-change poses a certain advantage to players. 1-5 odds are given for each bet, and in order to be proven, "the government would have to announce in a statement that the study is without flaw and also conclude it is real without any scientific doubt," said Richards. There are 14 bets to choose from, including “It's proven that global warming exists beyond any scientific doubt before Dec. 31, 2007”.

Despite scientist claims that the given odds are designed to part people from their money, over 3000 bets were placed within the first 3 days of online booking.

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