Financial betting site BetOnFinance.com has launched a new game allowing players to bet on which CEO will depart next.
Punters have long been able to bet on the next football manager to get the sack, and now BetOnFinance is giving its customers the opportunity to predict the next CEO to leave their current company, allowing them to bet on one of the biggest stock price drivers.
There can be several reasons to hire a new CEO – perhaps the current CEO is about to retire, results don’t live up to the expectations of the board, strategic disagreements or that the current CEO is leaving for a new employment. However, one thing is certain – the stock price will always reflect the market’s verdict on the replacement.
So far, private investors have only had limited opportunities to profit from their views on whether businesses should be looking for CEO replacements – as well as the occasional markets offered by some bookmakers, but now they can take a position with BetOnFinance.
Jeff Saul, founder, and CEO of BetOnFinance, explained: “If there is something that can move stock prices, then it is the voluntary or involuntary departure of a CEO. In our new CEO Game, one does not have to trade the underlying stock to make a profit. One can merely bet on which CEO will depart next.”
Continuing the momentum from 2016, the CEO Game is BetOnFinance’s 7th new game concept in just 11 months.
The market allows players to place bets on 30 CEOs from the Danish or Swedish market. Like all other BetOnFinance.com games, the CEO Game is a pool betting game where the odds will fluctuate with every market update until one of the companies announces the departure of its CEO.
Saul added: “We expect that the players in these games will show their cards early. Thereby investors in the real stock market can check out the odds on the CEOs before they invest in the real stock market. Players really need to be on their toes in this game as the pools will close immediately after a company announces a CEO change, so if players want to profit from their CEO ideas they have to place their bets in due time.”