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US Presidential Election Betting Odds: Action up 600 Percent Over 2004

Written by:
C Costigan
Published on:
Aug/22/2008

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.

Paddy Power has turned over more than three times what it did in 2004 according to a BBC report.

According to Intrade the vice-presidential stakes - or veepstakes - are currently "stealing the limelight", with Barack Obama expected to make his choice very soon.

Democratic VP candidates Joe Biden and Evan Bayh are featured prominently on the Intrade website's front page, just above Republican frontrunners Mitt Romney and Tim Pawlenty.

The company said the VP market had been "frenzied" on Tuesday, with Joe Biden rising 18.9 points to close at 49.8 - indicating a roughly 50-50 expectation that he would end up as Barack Obama's running mate.

The same hold true for Bookmaker.com, whose CEO Mickey Richardson told Gambling911.com that betting on this year's election has been "phenomenal". His is the oldest established North American facing sports book online today and, like most of those that cater to US customers, there is no disclosure of dollar or volume amounts.

Vice Presidential odds are also hot at Bookmaker.com.  They were the first to list Biden as a favorite.

"He will get it!" predicts Richardson. 

Sportsbook.com tells Gambling911.com their website will probably offer the best ability to predict the outcome of this year's election by providing a breakdown of betting on the two candidates by state. Ironically, the company admits they have not seen extensive wagering on the Election up to now.

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Christopher Costigan, Gambling911.com Publisher

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