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Recent reports indicate that this year’s presidential election is stirring up a raging flury of gambling activity!
For starters, there’s the sheer amount of gambling being done on the outcome of the election itself. Jon Delaney, a chief executive at political futures market website Intrade.com, finds that betting on the election is up an astounding 600% over the 2004 contest! The significance of this figure takes some putting into context. According to Delaney, this is the most betting activity on a non-sporting event in recorded history.
This has found gambling pundits and analysts in the role of political forecasters. For example, Mickey Richardson of BetCRIS.com just recently correctly predicted that Joe Biden would be named Barack Obama’s Democratic Vice-Presidential nominee. The key to his sage political insight? “All the money was coming in on Biden the last few days”, the modest Richardson said. BetCRIS.com also took a $20,000 bet this week from an anonymous party who apparently has good reason to believe the Republican party will take the White House.
On the whole, however, gamblers seem to predict a Democratic victory in November. According to BetCRIS’ projections, the Dems were clocked to win at -250 odds just before Biden’s nomination, a number that climbed to -300 following it. Gambling websites all over the Internet seem to be benefiting from this year’s race, which is driving readership in what is already (thanks to football) one of the most busy times of year.
Explains Gambling911 Senior Editor Payton O’Brien, “now we have people not just looking for odds on the Dallas Cowboys, but also looking for the latest odds on John McCain, Barack Obama, and their running mates.” This trend should only continue to build and swell in the coming weeks, as McCain has yet to announce his own running mate and the Presdential debates are still to come. Both of these events should offer gamblers plenty of incentive to lay more money on the line!