By Annalyn Censky @CNNMoney July 26, 2011: 5:17 PM ET
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Some investors have put $4.8 billion worth of chips on the table, in the form of credit default swaps, betting that the U.S. will default.
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NEW YORK (CNNMoney) -- With its winners and losers, Wall Street is often likened to a big casino for obvious reasons. And even when it comes to a possible U.S. default next week, at least a few financial players are looking to cash in on such a bleak turn of events.
A small camp of investors are betting that the U.S. government will default on its debt, and they're putting $4.8 billion of their chips on the table.
In the event of a default, that's how much financial firms will have to pay out to investors who bought credit default swaps against the U.S. government, according to figures from the Depository Trust and Clearing Corp.
With only a week to go until the government breaches its debt ceiling, are these few investors likely to come away with the winnings of a lifetime?
Probably not, experts say.
"I think we're a long way away from considering this hypothetical [case]," said Otis Casey, director of credit research at Markit.
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Betting $4.8 billion on a U.S. default
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