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UK spread bets show U.S. bailout vote likely to pass

Fri Oct 3, 2008 12:15pm EDT

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LONDON, Oct 3 (Reuters) - The vote in the U.S. House of Representatives over the proposed $700 billion U.S. bank bailout has an 80 percent chance of going through, according to the latest spreads from IG Group (IGG.L), the financial spread betting firm.

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IG Index is offering customers the chance to gamble on the outcome, through a binary bet, which is based on the percentage probability of an event happening.

The spread currently stands between 80-88 for approval of the plans and 14-22 for rejection.

IG launched the market earlier in the week and said interest among customers had been very high. (Reporting by Matthew Scuffham)

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