Obama Opens Huge Lead…Amongst Bookies!
So with Obama moving ahead or gaining traction all over the United States, I was interested to see where the bookies currently stand. And well, with just 26 days left until the election, Obama is now a 1-4 favorite to win the presidency. If you’re not familiar with spreads this means that you have to bet $4 on Obama to win $1 (also your $4 back if he wins of course).
McCain’s odds now stand at 5-2. Meaning you can bet $2 to win $5 (plus your $2 back if he wins). This is a commanding lead for Obama because since the house always wins, these odds are scewed to pay out even less. Obama’s 1-4 odds basically say that he has a 75% chance of winning the election, which really means he has about an 80% chance of winning.
And let me assure you, Vegas is not “in the tank” for Obama. The only party they worship is the green party.
photo credit: flickr
2 Comments
Actually, 5-2 means you’d win $5 for every $2 bet. With your original bet of $2, that would make for $7 return.
Ummm….I said that- just in reverse order. Thanks for the “correction” that was specifically clarified in parentheses.
Yes you get $7 back, as I stated with different wording to yours.
The $2 and $4 bets were of course hypothetical, to make this post as straight forward as possible. Online casinos typically have a $5 minimum bet, Vegas casinos typically have a $10 minimum bet.
Wow, after a year without commenting on my blog, thanks for the “correction.” Great CE work MJ!