Betting on the Weather
Posted: December 13, 2019
Updated: January 10, 2020
You can bet on all aspects of the weather
Not all bookmakers will take weather bets
Hedge your bets if you're uncertain
Yes, there is such a thing as betting on the weather. People will take a punt on anything. And that includes the weather. I mean, why not? It’s forever changing and always appears so unpredictable.
Introduction: Betting on the Weather
Be aware that not all betting websites offer betting on the weather, but 1xBet does. Among all the betting subjects on offer, betting on the weather falls into a small niche. Yes, there are some sports books in the US that offer odds, but they are generally few and far between.
And It’s Hot, Hot, Hot!
The most common punts are on factors like temperature extremes, amount of rain/hail/snow/toads that will fall in a certain period. And storms like tornado and hurricanes. In the Summer it’s all about how high the mercury goes. A typical wager on 1xBet would be that the highest temperature in a given time frame would be 82 degrees or lower. Or 85 degrees to 90. Whatever. You get the picture. You’re betting on getting the range correct. In the Winter it’s simply the reverse. Everyone and their snowman bets on there being a white Xmas. My favorite to to move the mother-in-law to some coastal town and then bet on a hurricane touching landfall there. Double win!
Let’s Play Weather battle
This a website where users can bet against each other based on the future weather conditions of any number of locations. It works like this; you choose a weather phenomenon: heat, windy, cold and rain. Then you select 10 cities of the 40 provided and hope that those 10 cities are hit the hardest by heat, wind, cold or rain.
So Why do People Bet on the Weather?
Mainly for the fun of it, I guess. Or they’re as dumb as a brick. Or they just can’t help play online sports books sites in the US. Perhaps you could also study historic weather patterns. That way, your betting on the weather, is a least based on more than the direction the frogs are croaking in. After all Meteorology is the study of weather and it’s effects on the climate. They say it’s a science. But on the other hand, I’ve never heard of a TV weatherman getting rich from betting. In certain parts of the world, like Cambodia, weather betting is what’s known as “hedge” betting.
Hedge Against Your Nemisis
Say you’re a hard working farmer. And you need a cool Summer for your crops. So high temperatures would be your nemesis. By taking out a couple of big bets on a higher temperature, you’re hedging your bets against your crops doing poorly. So if the weather gets too hot, you’ll lose some of your crops but gain from your bet. The purpose of hedging isn’t to get rich, it’s just a back up.
Getting Rich Off The Weather
There is a market place in the US where you can score big if you’re betting on the weather. Large corporations are involving themselves with “weather futures”. The definition is: “the payoffs are based on the aggregate difference in the measured weather variable.” In the early 1990’s weather futures were first created to mitigate the negative effects of the unpredictable weather. By Enron of all people! They are essentially, hedge funds, that protect companies from losses caused by weather conditions. Farming corporations, along with utilities companies and even entire cities have taken out contracts in order to hedge themselves against various weather associated risks. I guess it’s better than licking your finger and holding it up!