British Bookmakers Bet on Obama for Reelection

Barack Obama will remain President, if British bookmakers have any say on the vote.  Instead of just sportsbetting or horseracing bets, British bookies offer political bets to gamblers all over the world for important political events such as the US election.  Obama is the candidate most gamers are choosing to place their money on but his challenger Mitt Romney would almost double an initial bet given his odds of winning under British expectations.

Political betting is a practice that Britain’s largest bookmaker William Hill says reaches gamers who are uninterested in betting on the track or on a sports match.

“It gets us to people that we otherwise couldn’t reach,” says William Hill spokesman Graham Sharpe.  Of course players who would be most interested in betting the odds of the US election outcome are US players themselves, who under federal law are unable to place such wagers.  The bookmaker says it expects what translates into $1.6 million to be placed through them on the election.

Online gambling site Betfair is also taking bets on the electoral outcome.  Their odds are approximately two thirds in Obama’s favor over Romney.  Although British gaming support is largely on Obama’s side the non-money betting polls in the US have the candidates near neck and neck with each other making these last few weeks of campaigning all the more important.

In Nevada the race for the state’s senate seat is split nearly as evenly as the race for the Presidency.  Analysts are expecting the Nevada race could come down to which candidate Democrat Shelley Berkeley or Republican Dean Heller is providing more support for the promotion of online poker legalization in the state.

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