2012 Presidential Odds Move in Obama's Favor
Bettors are a different lot, so to speak, and one of the most active non-mainstream wagers made during the past week has involved the odds of Barack Obama being re-elected. Obama was a -175 favorite to have a second term in office last week, but as news of Osama bin Laden's death broke, the money came in on Obama and he was moved to -250, meaning bettors have to wager $250 to win $100.But now that the bin Laden talk is slowing down, bettors are going against the grain and taking the increased odds on the Republican candidates, which has knocked Obama back down to a -200 favorite.
As of Friday morning, Bodog had Obama -200 to be re-elected and the Democrats -215 to win the White House, while the top Republican candidate, Milt Romney, is at 8-1 and the Republicans are +175, meaning you wager $100 to win $175 to win the presidential election.
The death of bin Laden was seen to have guaranteed Obama the Democratic nomination, as he is now a whopping -2500 favorite, while Hilary Clinton has dropped to +1200.
The Republican nominee is still a question mark, with Romney +250, Tim Pawlenty +500, Mitch Daniels +550, Sarah Palin +800, Mike Huckabee +900 and Donald Trump +1000, along with a slew of others at odds of +1200 or higher.
The odds can, and will, change as current events transpire and the bettor who acts quickly will usually get the best of them.
