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Paddy Power pays out £400,000 on Obama victory in U.S. Presidential election

by Paddy Power Admin | November 4, 2012

Paddy Power is paying out to punters who backed Barack Obama to win the US Presidential election 2012.

There’s still two days to go before America votes and national polls show voters remain largely undecided with nothing more than a sheet of ballot paper between Democrat Obama and Republican rival Mitt Romney.

But Paddy Power believes it’s a done deal and Obama is a nailed-on certainty to win a second term.

Paddy Power Obama Payout

The gutsy call sees Europe’s largest bookmaker put its neck on the line for more than £400,000 (over $650,000). Prior to the decision to pay out, Obama’s odds fell to a low 2/9 and over the past months Paddy Power has seen 75 per cent of money staked go Obama’s way.

A Paddy Power spokesperson said:

Romney gave it a good shot and is doing well in the popular vote, but we suspect he’s had his moment in the sun and is likely to be remembered more for his legendary gaffes than Presidential potential.  The overall betting trend has shown one-way traffic for Obama and punters seemed to have called it 100 per cent correct.  Despite Romney appealing to the large evangelical and senior vote, America’s sticking with black and cool.

Paddy Power continues to offer betting right up to and including Election Day.  One of the most popular bets on offer is predicting the winning margin of the successful nominee on November 6.

To see Paddy Power’s full range of betting on the American Presidential election click here.

[Singles only. Bets up to 10am, November 4. All bets will paid out by midday Monday 5th.]

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