As economy slides, Latvians gamble on inflation (AFP)

RIGA, Latvia (AFP) - As Latvia struggles with recession, betting on official monthly inflation figures has become an opportunity to strike it rich with bookmakers offering attractive odds. Internet users can place wagers on September year-on-year annual inflation figures due to be released by the Latvian office of statistics on Wednesday. Gamblers betting it will be between 14.4 to 14.9 percent can win 30 percent of their wager on the triobet.com betting portal. Inflation stood at 15.7 percent in August year-on-year, down from a 12-year high point of 17.9 percent in May. High-risk gamblers can more than triple their money, if they bet that inflation will slip below 14.4 percent. In the least likely case of the inflation rate climbing above 14.9 percent, gamblers could score a seven-fold return on their bet, according to... [read full story]