It isn't ideal but it is the best we have at the moment ...
Here is a Mutator which allows FOV's up to 130 ... for online play the server must run it too.
http://utforums.epicgames.com/showthread.php?t=594587
Readme ...
Add the mutator when starting a game, as normal. With it running, open the console (press TAB for the quick console or F10 for the full console by default) and type mutate fov 90 (or whatever your desired FOV is in place of the 90) and press return.
The value you last set will be saved in the INI file so that it can be appplied next time you run the mutator.
The FOV value is a client-side setting, so if you join a server running this mutator, you will get your own chosen FOV.
The allowed values for FOV are 70-130o. Values above 130 are disallowed because the camera starts to clip, allowing players to see through walls.
FOV 100 ... the highest the game will allow without the mutator.
FOV 130 using the Mutator
FOV 100 ... the highest the game will allow without the mutator.
FOV 130 using the Mutator