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Related Links bettors cash in on election

9 Nov 2006

(PRESS RELEASE) -- political bettors cashed in big on U.S. Senate Election odds and walked away with their wallets a little fuller on Tuesday. The U.S. Senate Election odds offered by received record-breaking betting action and proved just how important this election was, and still is, to the voters. was the only online entertainment group to offer odds on all 33 U.S. Senate races and, as a result, the odds quickly became a hot commodity, drawing a record amount of bets. Wagering on the Senate was a worldwide phenomenon as citizens from several countries had their say on the outcome of an election that will have global implications. was actually forced to close its Senate wagering early due to heavily one-sided betting across all 33 races. A number of races started with odds as high as 1/9 on the favored candidate, but fierce betting forced odds to be moved up, and in some races overwhelming favorites stood at 1/19 to win. Not even those odds could prevent political bettors from backing up their opinions with their money as the wagering continued to pour into

"Political betting has always been an interest for our clients," says Calvin Ayre, Founder of Entertainment Group. "We were expecting to see plenty of betting on the U.S. Senate odds, but we never expected betting to be as heavy as it was. All 33 wagers were bet on very heavily, and nearly every wager had a clearly defined favorite that drew 90 percent, if not more, of all bets."

Out of all 33 races, Sheldon Whitehouse (D-Rhode Island) has been the only underdog to come out a winner, although Virginia has yet to become official.

"Without a doubt, the bettors had each and every race pegged from the beginning," Ayre says. "It just goes to show, political betting is a great way of polling public opinion and is just as accurate, if not more so, than traditional polling methods."

This election has seen the balance of power swing in favor of the Democrats. Though the House of Representatives has already been declared a Democratic majority, the Senate is still being battled for and hinges on the outcome in Virginia. The latest reports say that incumbent George F. Allen (R-Virginia) will concede to underdog Democratic challenger James H. Webb, who has an approximately 7,000-vote advantage. If the result holds, Virginia could prove to be upset number two for political bettors - time will tell for sure.

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