Paddy Power, which trades on the London Stock Exchange, says most bettors don't expect Facebook sharesto be a bargain when they debut later this year.
"Fortunately for creator Mark Zuckerberg, it’s an unlikely 10/1 with Paddy Power that the initial price will be less than $25 per share," says the website's press release.
The most likely price range is $35-$44.99, at 10/11 odds. That's about less than one tenth the current price of a share of e , and much cheaper than Google's IPO price of $85 eight years ago. (Remember when some people thought Google was pricing itself too high? HA HA HA HA..heh. Sigh. I think I secretly agreed with them at the time.)
Other current odds Paddy Power is providing for Facebook's IPO:
- $25-$34.99: 7/2
- $45-$54.99: 9/4
- $55-$64.99: 7/1
- Over $65: 9/2
(Reminder: online gambling remains illegal in the U.S. For now.)
Paddy Power is also placing odds on who will ring the opening bell when Facebook goes public. The no-brainer, at 1/100 odds, is co-founder and CEO Mark Zuckerberg. I'd make those odds 1/1,000,000, since I figure the chance of Zuckerberg getting struck by lightning over the next few weeks or months is a million to one.