Sportsbook.com Offers Odds on Elections

WASHINGTON, DC – (PRESS RELEASE) -- On Tuesday November 7th, American voters will decide whether the Republicans should continue their reign over the House of Representatives and the Senate or whether Democrats should take charge of Congress. Sportsbook.com, the world's largest online sportsbook and casino, now offers an opportunity to bet on the outcome of what is fast becoming the most analysed and anticipated US Midterm Elections.

Bet on Midterm Elections to the House of Representatives

All 435 representatives in the U.S. House of Representatives face re- election in November. Republicans now hold 231 seats, Democrats have 201, with one independent and two vacant seats. Democrats need to win a net of 15 seats to gain a majority. That may seem tough today but the job approval ratings of both the Republican President and his Republican controlled Congress are increasingly negative. The GOP's grip on national politics is significantly weaker than in recent years. Odds on the Democrats gaining a majority in the House currently are +160, meaning that a wager of $100 would result in a $160 profit. Odds on the Republicans retaining the majority are -200, meaning that one would need to wager $200 to win a profit of $100.

In the wake of Texas Republican Tom DeLay's recent announcement that he will resign his seat in the House, Sportsbook.com is also offering odds on whether the Republicans will retain DeLay's district after November 7th. Odds are currently in favour of the GOP retaining the seat at -140. Odds on the Democrats taking the seat are +110.

"Democrats need to score a net gain of 15 seats to win a majority in the House," says Jennifer Duffy, Editor and Political Analyst for non-partisan The Cook Political Report. "Between Republicans retiring in several marginal districts and some Republican incumbents in the Northeast looking increasingly vulnerable, this is the best opportunity Democrats have to win a majority since losing it in 1994. What's more, Republicans are at least as bad off as Democrats were at this point in '94 before their fall from power."

Bet on Midterm Elections to the Senate

Unlike the House, only 33 of the Senate's 100 seats will be contested in November. Democrats currently hold 44 seats; Republicans 55 and there is 1 independent. Democrats need to capture a net of six seats to gain majority control. This means Democrats must win all six Republican-held seats in the competitive races without losing any of their own. Sportsbook.com odds on a Democrat majority in the Senate are +200, odds on the Republicans retaining their majority are -260.

Sportsbook.com will also be offering updated odds on all of the high profile Senate races, including Pennsylvania, where Republican incumbent Rick Santorum is fighting for his political life in a close contest with Democrat challenger Bob Casey Jr., the odds makers favorite at -150. The odds on Santorum recapturing the seat are currently +120.

"The fact is that Republicans have much more exposure to potential losses than do the Democrats in the Senate races," says Duffy. "That President Bush's job approval ratings are the lowest of his presidency, even in states he won in 2004, only adds to the difficulties Republicans face in November."

"Everyone has an opinion on who should win and who will win. And everyone bets. We think by putting up our first group of odds on these Midterm elections, we are giving Americans a chance to say now what they think the outcome will be," says Alex Czajkowski, Marketing Director, Sportsbook.com. "Offering odds on political events is the perfect way to let everyone wager on the issues that are important to them."