2008 US Presidential Elections Betting: Helps Boost Revenues

Written by:
C Costigan
Published on:
Aug/23/2008
Obama and McCain

2008 US Presidential Elections betting has officially more than just a supplement to the upcoming football season both in the US and Great Britain.

According to John Delaney, chief executive of Dublin-based political futures market Intrade.com, betting on the US Presidential election is up 600 percent over the 2004 Presidential Election, which to date was the most bet on nonsporting event ever.

Mickey Richardson, CEO of BetCRIS.com declared that 2008 US Presidential Elections betting has been "phenomenal". This week, Richardson correctly predicted that Joe Biden would be chosen as Democratic hopeful, Barack Obama's, running mate.

"All the money was coming in on Joe Biden the last couple of days," he said.

BetCRIS.com accepted a $20,000 bet this week on the Republican party to win. Richardson did not disclose where the bet originated.

BetCRIS.com would be updating Presidential Elections odds following the Democratic Convention this week. The Democrats were listed as a -250 favorite to win the White House just prior to Biden's nomination. Gambling911.com was forecasting these odds to open back up slightly above -300 as much of the press surrounding Obama's pick has been positive and Biden is being warmly received by his colleagues and the public alike...or so it seems.

Much of the inquiries coming in to the Gambling911.com website Friday night prior to the official announcement that Biden had been selected focused on Hillary Clinton. Biden's international affairs experience, however, is likely to erase much of the fears that Obama is "inexperienced" in this area.

For news and information websites the likes of Gambling911, 2008 US Presidential Elections betting has provided a boost in readership during what is traditionally one of the site's most heavily read periods thanks mostly to the football season and the surge in gambling during this time. G911 posts all the latest odds, game analyses and future betting payout potentials for each team.

"Now we have people not just looking for odds on the Dallas Cowboys, but they are also looking for the latest odds on John McCain, Barack Obama and their running mates," explains Gambling911.com Senior Editor, Payton O'Brien. "It's amazing the frenzy of those looking for odds on Obama's running mate Friday night," she added, while acknowledging that most sites had already pulled odds down on this event as the announcement neared.

Millions of dollars will be taken on the 2008 US Presidential elections, with a few million taken in on Election Day itself.

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Christopher Costigan, Gambling911.com Publisher

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