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British Gamble $8 Million on US Election

Obama seen as a 1-in-12 favorite.

One sign the world is transfixed by the US presidential election? Britain’s gambling industry is raking in around $8 million in bets on the outcome of the voting, a spokesman for Ladbrokes told MarketWatch, more than double 2004’s tally. While a staggering 250 million pounds is wagered every year on Britain’s premier horserace, this year’s US election tally is on par with a typical British general election, MarketWatch reports. And the odds mirror the polls in the States: Going into Tuesday’s election, Ladbrokes was offering odds of 13-2 on a McCain victory, while Obama is a 1-in-12 favorite.

Read it at MarketWatch

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