The “Exchange Bar” that opened recently in Manhattan is now offering drinks “trading” in futures.
Our friend checked it out recently and says it’s not really like futures trading at all. You just put $225 (for a bottle of Jack) down and Exchange Bar stashes a bottle just for you behind the counter.
The only way it’s kind of like futures is that the price of alcohol could theoretically skyrocket in the next month or two and you would have already bought a bottle when it only cost… $225.
But as the price stands now, the Exchange Bar actually breaks completely even on the sale, so it’s a great deal for them because there is no chance they lose anything and they keep you coming back.
We can’t tell from the website how much a single shot of whiskey is, so lets say $10. The bar makes $225 whether you buy the bottle now or buy it shot by shot over a week or months. That’s about $180 of profit for Exchange Bar no matter what.
(Because spirits are usually poured from one-liter bottles, which are just less than 34 ounces. That’s about 22.5 drinks at the standard 1.5-ounce pour.)
Now check out some other places Wall Street gets drunk –>