Friday, 17 October 2008

Fat Lady Singing McCain's Tune

Beth Ditto may be gargling and practising her scales but for one bookmaker she may as well start belting out the losers song for John McCain because it has closed the book on the American election and declared Barack Obama the victor.
Irish bookies Paddy Power is so sure that the Democrat will win the election that it has paid off all £778,000 worth of bets that backed him with three weeks still to run.
"We declare this race well and truly over and congratulate all those who backed Mr Obama - your winnings await you," the company said in a statement although if McCain does somehow get himself back in the race, it wouldn't be the first time that Paddy Power has been hilariously stung.
In 2003, they coughed up a double payout on the English Premiership after paying out early on Arsenal winning the league only for the Londoners to crash and let in Manchester United to win the title forcing the bookmaker to lose a fortune by paying out on both sides of the bet.
If Paddy Power have got it wrong about the US Election the same thing will happen. Those who voted for Mr Obama will get to keep their winnings while Mr McCain's backers will also cash in.

7 comments:

Cheezy said...

That story staggered me when I first heard about it... What possible reason could a bookie have for paying out early? Anyone know? Even if they're proven right about the result, why do it now? You can't earn interest on money that's in someone else's pocket.

And actually, I don't think the election is a fait accompli yet. Not quite. Too many x factors. The Bradley Effect, the October Surpise (those sound like Robert Ludlum's novels don't they?), the chance of a terrorist attack (or at least a perceived terrorist attack) the general volatility of the markets, etc. Plus the Republicans are known for their rather 'creative' ways of getting their vote out on election day (and preventing the other lot from getting their's out). And I haven't even mentioned the thorny issue of counting the votes.

Things are looking very encouraging for Obama, but it's not all overs.

David G said...

In the cesspit that is American politics nothing can be taken for granted.

Money buys anything in that country, money and fear!

Anonymous said...

I am glad Obama is circumspect about this - you never know and his victory is by no means secure.

JodieKash said...

Beth Ditto is merely "curvy"...isn't that what it's called now?

Lucy said...

All i can think is the publicity for Paddy Power Cheezy, if it didn't mean that Obama would lose, i would love to see them get a caning. I agree with you and ruth that it looks good for Barack but it is by no means over.

Beth Ditto is curvy jodie, in the way that Kate Moss is below average weight.

lettersA2Z said...

a computer scientist from an american university rekons anyone who can write a computer virus would be capable of hacking into the electronic voting machines to change the way it counts votes. the lecturer said he could do it in ONE minute!

if the 2004 election is anything to go by im sure theres gonna be some dodgy vote counting going down.

Dismal Soyanz said...

Maybe they had the inside running on Colin Powell's endorsement of Obama.