Follow the Money

Discussion in 'Election Forums' started by Star, Nov 2, 2012.

  1. Star

    Star Gold Member

    Apr 5, 2009
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    Follow the Money, if you like long odds and think you can catch lightning in a bottle -- bet on Romney. But-----but if you'd rather get a ROI for your gambling dollar -- bet on Obama.

    2012 Presidential Election Odds

    A lot of the excitement has been removed from the 2012 presidential election, at least from a betting perspective. The probability that Barack Obama and Mitt Romney are going to win their respective parties' nominations, give bettors one less thing to wager on.

    Before we get to the odds listed at several different sportsbooks, novice bettors should be aware that the odds are listed using what is known as the money line.

    Those wanting a detailed explanation of the money line can read Understanding Money Lines, otherwise I'll give you the quick explanation once we see some odds.Different sportsbooks will have different odds on events and the presidential election is no different.

    First, we'll look at the odds from The Greek, one of my favorite sportsbooks, although they no longer accept wagers from United States-based gamblers, due to the country's asinine gambling laws. The Greek offers just one bet:

    Political party to have the next USA President: Democrats -250
    Republican +210

    For those unfamiliar with the money line and didn't want to read the longer article, the -250 after the Democrats means that you have to wager $250 to win $100 if you wager on the Democrats to capture the White House. You do not have to wager that much money, however, as you can wager $37.50 to win $15 or $50 to win $20. You are risking twice as much as you will win, which is often the case when betting on a solid favorite.

    The +210 after the Republicans means that you will win $210 if you risk $100 and again, you aren't requited to wager that much. You can wager $10 to win $21 or risk $20 to win $42. You are essentially risking $10 for every $17 you hope to win.

    The difference between the -250 and the +210 is how the sportsbooks and bookies make their money. In a perfect world for the bookie, I will come and risk $250 to win $100 on the Democrats and you will come right behind me and wager $100 to win $210 on the Republicans. If the Democrats win, the bookie will take the $100 you lost and give it to me, so he is not out any money of his own. But if the Republicans win, he will take the $250 I lost and give you $210 and pocket the remaining $40.

    Now, we'll look at another sportsbook, Intertops, where they did offer two different wagers: Party to win the next Presidential Election:

    Democrats -227
    Republicans +165
    NOTE: This bet has been removed.

    The lone wager is now:
    Who will be the next President?
    Barack Obama -227
    Mitt Romney +160

    The odds on Obama are worse here than at The Greek for both Obama and Romney.

    The odds will change a bit as we get closer to the election and you may see several other wagers added later.

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