Gaddafi Bets Look Like They Will Pay Out

With news that the rebel forces are in the process of taking over Tripoli, it now appears as if Muammar al-Gaddafi leaving power odds are about to pay off.  Libya has been at civil war since February with Gaddafi refusing to step down.  News broke late Sunday that two of Gaddafi’s sons have been arrested for crimes against humanity. 

Mustafa Abdul Jalil, the head of Libya's National Transitional Council (NTC), said in an TV interview on Sunday night that Saif al-Islam, Libyan leader Muammar Al Qaddafi's second son, had been captured and was under custody in a safe place.

At one point 70 percent of the prediction market at intrade.com backed Gaddafi leaving power by year’s end.  It was beginning to look as if this event could stretch beyond the end of the year.

Gaddafi remained defiant throughout. 

"We shall not surrender and we shall not fear passers by. We jeer at their missiles. These are passing missiles.

"In the short term, we will beat them. In the long term, we will beat them.

"The most powerful air defence, the most powerful air defence is the people. Here are the people. Gaddafi is in the middle of the people. This is the air defence.

"I do not fear storms that sweep the horizon, nor do I fear the planes that throw black destruction. I am resistant, my house is here in my tent... I am the rightful owner, and the creator of tomorrow. I, I am here! I am here! I am here!"

Celebrations were reportedly taking place in the streets of Tripoli during the early morning hours of Monday.

- Gilbert Horowitz, Gambling911.com