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The money says: Obama in a landslide

Nov 3, 2008 7:56 PM

by Ray Poirier | Wagering on the outcome of the presidential race in Nevada is illegal so American gamblers have sent their money to Europe, as they usually do every four years.

And their money predicts that Barack Obama will win in a landslide. The prediction is Obama will garner between 340 and 360 electoral votes.

An estimated $25 million have been wagered on the race with the final odds on Monday showing Obama as the 87% probable winner.

Most wagers have been of the $50 to $50,000 variety. If someone wagers $87 on Obama, he stands to win $13.

An Obama win is such a foregone conclusion, said one Irish bookmaker, that he closed his book a week early and paid off all the Obama wagers.

English bookmakers point out that in 2004 their bettors successfully predicted the winner of all 50 states. They have selected the winning president in all years since booking the races, except for Al Gore in 2000, although many will contend that he was the rightful winner after all.