Fixed odds bet

"I wish to win X if over the next 7 days the USD/JPY has a high-low range exceeding 2 points. For example, if the USD/JPY has a range of low=98.45 and high=100.98 over the next 7 days, I will win X (because high – low = 2.53 > 2)."

What fixed-odds product is this? Or is this a trading strategy? Binary option?

Thanks.

That's not 2 points...

98.45 - 100.98 = 253 points.

Cool! I looked at http://www.financial-spread-betting.com/fixed-odds-trading-guide.html & I don't see the above in play. Appreciate some leads.

There's this site for betting on financial stuff. http://www.betonmarkets.com/ It seems one of the big well known sites has been bought by them.

Question is: if you're sure about the bet/think there's a good chance why would you lose value by taking a fixed odds bet?