Aussies take a punt on stocks

Australians can now place a bet on where the S&P/ASX 200, the index of Australia's 200 biggest listed companies, will finish at the end of the month.

Centrebet's sharemarket book shows that so far, most punters expect the ASX's market will rise in March.

There are longer odds on a fall or steady result.

Company spokesman Neil Evans said the product was designed to lure financial specialists towards Centrebet along with "across-the-board punters who just like to have a go on these sorts of things".

"It is a straight up-and-down betting book but it is a futures book," Evans said.

Punters have been able to bet on Reserve Bank of Australia rates moves through betting agencies, including Centrebet, for several years.

"In that time, nearly A$1 million [NZ$1.3m] has been bet with us on the RBA's rate decision. Now, market punters can bet on the ASX 200 indicator, with three end-of-month prices regularly updated," Evans said.

"This is something we have been working on for months, and believe it will ignite a new wave of financial punters."

Traders can already profit from taking a position on how the market will perform by buying a futures contract – however these must be purchased through a licensed broker and are traded on the Sydney Futures Exchange.

Unlike other index-related financial products that are traded through the ASX, such as exchange-traded funds, Centrebet is not offering clients the chance to buy into a managed fund or underlying asset.

The company, which is listed in its own right, will now push to expand market-based bets to cover shares and commodities, such as oil and gold, as well.

Centrebet does not need a financial licence to provide the service, and is working within its gambling licence, Evans said. "We do not have to take it to the ASX or anyone else and ask for clearance."

A spokesman confirmed ASX had no jurisdiction over Centrebet's offering.

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