Obama Wins at 1-3 Odds!

US incumbent President Barack Obama has won his re-election bid as a near 1-3 favorite.

CNN projected Obama’s win at 11:20 pm ET.

The projection was made as it was determined that Obama would take the key battleground state of Ohio.

At press time it was looking as if the President could win Florida, a state that Romney was favored to win at Sportsbook.com at 1-2 odds heading into Election Day.

Obama’s win was projected 20 minutes later than it was in 2008. 

Elsewhere, Harry Reid will remain the Senate Majority Leader, which is instrumental for the online gambling sector as he is expected to push forward a federal bill legalizing Internet poker during the Lame Duck session of Congress. 

- Carrie Stroup, Gambling911.com Senior Reporter