Pundits and pollsters are calling tomorrow’s US Presidential election a, “toss up,” but sports betting exchanges do not agree.

According to a recent article in EGR Magazine, most betting exchanges and sports books are calling for a big Barrack Obama win tomorrow.

Over at Betfair, one of the biggest betting exchanges around, there’s plenty of action and most of it is pointing towards an Obama win. EGR is reporting that that site has already banked more than £15.6 million on the election. As much as 78% of that total is resting on Obama.

Over at spread-betting sites, punters were leaning more towards Romney, especially after the first debate. But that momentum was short lived and most action is on the incumbent.

While online betting may not be the opinion barometer of choice for cable blowhards, Betfair spokesman Jay Midmer has a different take on the matter:

Betfair customers have favoured Obama all the way through the campaign, and the support continues to come as election day draws near. Romney’s campaign sought to portray some momentum from a variety of polls in recent weeks, but when people are betting their money they tend to see the bigger picture and the markets have consistently told a different story.

Of course betting on US Presidential elections isn’t legal in the US, so most of the folks putting money down aren’t likely to be eligible voters, which may also explain Obama’s edge. According to a recent poll, almost 90% of Europeans would vote Obama if they could.

Do you think the bookmakers have ths US Presidential race nailed? Share your thoughts in  the comments section below.

Tags: ,

Related posts: