President Barack Obama is a 2-to-1 favorite to win re-election over Republican challenger Mitt Romney, according to betting on the Intrade.com political futures market.
The BGOV Barometer shows Obama with a 68 percent chance of victory as of 5 p.m. yesterday. That means it cost $6.80 to win $10 should Obama win. Intrade state-by-state wagering gave Obama at least 281 electoral votes, 11 more than he needs to regain the presidency.
Intrade’s Internet betting pool rivals, Betfair and IEM, are even more optimistic about the president’s prospects, putting the likelihood of his re-election at 77 percent and 75 percent respectively at about 5 p.m. yesterday.