(no subject)

[geishawhite]

I have been informed that the biggest betting set-up in Ireland is currently paying out on Obama to win. They've given up any idea of McCain winning. If you go in to make a bet, Obama to win? They'll pay you right then and there.

Comments

[moiread]

Is there a news link to this? 'Cuz that seems like a highly unlikely situation, not only in that they might be wrong but that saying they'll pay out to anybody who walks in and asks for Obama means they'll get cleaned out. Cute idea, though. ;)

[moiread]

Ah! Found it. Paddy Power gave early pay-out on existing bets that favoured Obama as the winner, then closed it. You can't just walk in, jump in on that bet, hand them your money, and have them hand you back your winnings. That round is done and over with.

But since they used the opportunity to re-open new bets immediately afterwards (pay out when the elections end and a final result is reached, not now) on McCain making a long-shot comeback to win, it seems like they just figured they were losing money, so they might as well cut it off now and then start going for the other side to take in some more. Tactical business thing, from the looks of it.

[timprov.livejournal.com]

I'll sell as much Obama as you like for 102, and pay it immediately.

I think this is a silly decision: they could close the bet without paying off now, and even if they're convinced the election is 100%, there are still ample opportunities for a push. They're going to feel pretty dumb if McCain has a heart attack next week.