Presidential odds: Sarah Palin turns the table on Obama

In a brilliant strategic move the GOP has managed to cut the odds on McCain-Palin almost in half, while Barack Obama struggles to regain lead with the bookmakers and voters alike. Sure, the polls conducted by polling firms and media organizations are a good indicator of where the Presidential Elections are heading, but here we recognize only one voice - the odds. Unlike pollsters and commentators, the odds makers are actually putting their money where their mouths are and stand to loose a big buck this November.

No one is disputing the fresh blood (read literally by some) Sarah Palin brought to the Republican ticket with her VP nomination, but the most clear contrast to how much Palin is helping John McCain and the GOP could be seen by comparing the presidential odds. Just two months ago Barack Obama was flying high as an ultimate favorite to win the Elections, listed with odds -240 by the online sportsbook BodogLife on becoming the next U.S. President. For those who don't gamble, -240 means that you have to wager 240 to win just 100. Meanwhile John McCain was back at his usual underdog status with odds +175, or bettors would have been paid 175 on every 100 wagered.

It seemed that the Republicans realized that John McCain himself stood no chance against Barack Obama and quickly turned the table around on the Democrat - and here comes Sarah Palin. Obviously the GOP studied the Obama-Clinton battle in the primaries and realized that Barack Obama had a really hard time competing against a female opponent and opted out for Palin. Sure some of you would find this remark sexist, but one look at Palin's resume should be enough to convince anyone with a bit of brain that the GOP played their cards well.

To give credit where credit is due, the Republican party strategists cleverly turned the Elections from McCain vs. Obama to Palin vs. Obama. With neither of the two having any experience in the international arena (although the one and only job requirement for President of the United States), the numbers quickly changed. At the same sportsbook, BodogLife, the odds today on John McCain to win the Elections in November were slashed from +175 all the way down to +105, almost even money. Meanwhile Barack Obama, still favorite, is holding to odds of just -145 to become the next U.S. President. With two months left until the Elections, it would be quite interesting to see where the betting odds will move from here on. And, of course, we will update you on any future change in the odds.

Published on 09/19/2008