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Obama McCain in Dead Heat at Online Prediction Markets

Written by:
C Costigan
Published on:
Sep/12/2008
Obama McCain

Bookmaker.com, an online gambling website owned by the oldest established North American facing offshore betting firm, BetCRIS, has shifted odds on Republican Presidential candidate John McCain to -115. The move makes McCain a favorite for the very first time since both men were nominated for their respective parties. Senator Barack Obama was also listed with -115 odds at Bookmaker.com. That company - which owns a nine story state of the art complex in San Jose, Costa Rica - anticipates more than a million dollars bet on Election Day alone.

Another online prediction market, intrade.com, based out of Dublin, Ireland, has McCain listed with a 51.6 percent chance of winning the Election verses Obama's 48 percent. Betting on McCain was up a whole 1 percent since his running mate, Sarah Palin, appeared in her first unscripted interview Thursday night with ABC News' Charles Gibson.

The majority of online gambling websites offering odds on the US Presidential race list the two candidates in a dead heat, both with near even odds.

For supporters of Obama, the odds have never been better in terms of potential payouts. Until now, an Obama bet would have required a significant risk: $2 or more to win $1 or $200 to win $100.

And while McCain's chances now look more promising than ever, the early birds who supported the Arizona Senator are the one's looking to cash out the most. Payouts on a McCain win could be upwards of $200 for every $100 bet prior to this month.

The real winners: Anyone who had McCain when he was presumed to be "dead in the water" prior to this year's primaries. For a few months period, the long time Senator had payout odds in double digits. His odds at one point were almost as great as the Arizona Cardinals chances of winning the 2009 Super Bowl - 28/1.

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Christopher Costigan, Gambling911.com Publisher

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