BUSINESS

Democrats unlucky with the Irish

TAGs: Democrats, intrade, Paddy Power, Republicans

The odds aren’t looking for the Democrats in the upcoming November elections as far Irish bookmakers Paddy Power and Intrade are concerned. In fact, the odds are looking downright dismal.

Of the 33 Senate races, Paddy Power has ranked 22 of them with odds that favor Republicans, and only 11 favoring Democrats. But even the 11 races that favor Democrats most of them are being contested, which has Paddy Power favoring the Republicans to thief 10 more new seats than their Democrat counterparts. The odds on Paddy Power reflect American polls, so the writing really may be on the wall for the Democrats.

It’s much of the same for another Irish book, Intrade, which offers political outcomes to be bought in a similar fashion as people would purchase and trade stocks in an investment market. Intrade is selling shares that the Republicans will take the House in this year’s midterm election at a rate of 70.3. Conversely, shares that the Democrats will keep the majority in the House are valued at 28.2.

The November elections will be upon us before we know it, and the online gambling industry, huge Republican wins and control of the Senate could have serious implications for the future of the online gambling industry in the United States.

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