On this Election Day, U.S. Presidential Election betting odds at OddsChecker make the incumbent President Barack Obama the prohibitive favorite to win the election, as President Obama goes off at ca. 1/6 odds to win, while challenger Mitt Romney goes off at ca. 4 to 1 odds to win.
You can calculate what that means at Conversion and Calculation of Betting Odds. Betting odds of 1/1 would mean even money. 1/10 means essentially that you would have to put up €100 to win €10, i.e. a return of 1 for 10.
In places where betting is legal, for the above Presidential election odds:
- if you were to put up €60 and Obama won at 1/6 odds, you would only win €10 plus the return of your €60 bet
- if you were to put up €60 on Romney, you would win €240 plus the return of your €60 bet.
We will only know after the votes are counted.