Friday, October 12, 2012

The Line on Romney and where the Smart Money is going

No, No, No! This isn't another political advertisement for, against or approved by anybody. And it has nothing to do with campaign contributions.

I was looking at the latest betting information on next month's Presidential Election and thought I'd pass it along.

By Caravaggio, circa 1594.

First, for the uninitiated, a little gambling info...
You can not bet on political races in the US. For obvious reasons. But you can place bets on them offshore. One of the largest Bookmakers (a nice term for Bookies) is Ladbrookes, or Paddy Power, both in the UK.

The "Line" is the odds a gambler gets when he either bets for against any outcome. "Smart Money" is large bets by those supposedly "In the Know." The "Over/Under" is a bet that a total during an event will be larger than, or less than, that total. It's an "Even" (no odds) bet.

Today, Ladbrokes has it looking good for the Prez, at 1/3. (Bet $100, win $300). If your choice (betting-wise) is Romney, it's 21/10 ($100 gets you $210).

I don't know if it's "Smart Money" or not, but the controversial Las Vegas casino guy and billionaire, Sheldon Adelson, has pumped of ton of bucks into Romney's campaign. On the other side of the is billionaire George Soros. His truckloads of Benjamins has been heading Obama's way. I guess it evens out.

The Over/Under on Romey is 25.5

Bottom line: It's still awfully close in the betting world. Some might say it's "You pick'em." or "Toss up." (Who the hell knows?)

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