Betting Markets Open on US Elections
The U.S. presidential elections are fast approaching, both parties have chosen their nominees and now the bookies are setting the odds.
There is a number of different betting markets open relating to the elections, unsurprisingly the most popular is who will win the election and at the moment President Obama is the favourite. At Paddy Power there are odds of 4/11 that Barack Obama will win a second term as President and the odds on Mitt Romney are 7/4.
Paddy Power is also offering odds on the election by state; they have a list of all fifty states and odds of which party will win them. For example, the odds of the Republicans winning Arizona are 1/14 and the Democrats 6/1. In California there are odds of 1/40 on a Democrat victory and 9/1 for a Republican victory.
The latest polls show that 45% of Americans want Obama to win and 46% want Romney. The real fight will be for those who are undecided as there is a strong chance they could swing this election either way.
It appears that Obama has a slight advantage at the moment; another poll found that 50% of Americans like him as a person whereas only 30% like Romney.