(The Spread) – Oddsmakers had the Democrats at -450 favorites to win the 2012 U.S. Presidential Election, but action on the Republican side has caused the odds to drop.
Sports Book Manager Kevin Braley of Bovada.lv had this to say about the odds taking a turn:
“Last night we had the Democrats at -450 to win the election but saw non-stop action leading up to the debate on the Republicans getting over 3-1 on your money at +325,” Bradley said. “After the debate, which the consensus seems to be that Mitt Romney may have gained some ground, there was quite a move on the odds with the Democrats dropping to -300 and the Republicans down to +240.”
According to Bradley the Republicans were +325 on the money line, so the drop in odds is noteworthy. Bradley also notes that money has continued to pour in on the Republicans this morning, so who knows how far the odds will continue to drop.
Election Day is set for November 6, 2012 and on December 17, 2012 the Electoral College will formally elect a President and a Vice President. On January 3, 2013 the new Congress will be sworn in and three days later Electoral votes are formally counted before a joint session of Congress. January 21, 2013 is Inauguration Day.