Ireland’s biggest bookmaker, PaddyPower.com, has paid out on all Obama bets.
Problem is, he hasn’t been declared the winner yet.
US President Barack Obama is in a tight race with GOP candidate Mitt Romney. On the national front, Romney is said to lead by 1 point in most polls while Obama was leading by the amount or greater in most swing states.
Despite the national polls showing voters remain largely undecided with nothing more than a sheet of ballot paper between the two candidates, Paddy Power believes it’s a done deal and that Obama is a nailed on certainty to win a second term, a presser read.
The gutsy call sees the bookmaker put their neck on the line for over $650,000. Prior to paying out, Obama’s odds fell to a low 2/9 and over the past months Paddy Power have seen 75% of money staked go Obama’s way.
That’s a lot of Europeans getting paid as Paddy doesn’t even accept wagers from the United States.
At BetOnline, Obama’s odds were all the way up to -400 Monday morning but had slipped somewhat during the course of the afternoon to -350.
Paddy Power continues to offer betting right up to and including Election Day. One of the most popular bets currently on offer is predicting the winning margin of the successful nominee on November 6th.
- Gilbert Horowitz, Gambling911.com