Irish Bookmaker Obama Odds: Declares Election Over Early And Pays Bets

Paddy Power is an Irish Bookmaker that finds the Obama odds for winning the 2012 election to be overwhelming. So overwhelming, in fact, that they have paid actual money out to their betters two days ahead of the election day!

“Romney gave it a good shot and is doing well in the popular vote, but we suspect he’s had his moment in the sun and is likely to be remembered more for his legendary gaffes than presidential potential,” the Irish bookmaker said on Sunday according to The Washington Times.

Irish bookmaker Paddy Power is known for making early correct predictions along with early payouts. In January 2008, Paddy Power declared the Democratic primaries nomination over and paid out out on then-senator Obama to be the Democratic presidential nominee. This was months before anything became official at the Democratic convention, and Obama still had to lead a frightful campaign against Hillary Rodham Clinton. Later in 2008 during the general election, Irish bookmaker Paddy Power once again called the bets for Obama a full two weeks before voting even began.

For the 2012 election, the Irish bookmaker’s Obama odds have put 650,000 Euros on the line, which when exchanged for US dollars at current rates is more than $830,000. Predictions based upon the electoral college maps have Obama getting favorable odds to repeat his presidential term, so 75 percent of betting has gone his way in recent weeks. Personally, while the electoral vote estimates are likely to be correct, I find it astounding that betters who might have picked Romney would accept their losses without blinking. That’s a lot of money!

Do you think the Irish bookmaker Obama odds are correct?