The race is over as far as Ireland's biggest bookmaker is concerned.
Paddy Power PLC says it is so sure Barack Obama will win the U.S. presidential election next month that it paid off Thursday on all bets it had taken backing the Democratic candidate. It said it shelled out more than euro1 million, about $1.35 million.
"We declare this race well and truly over and congratulate all those who backed Obama - your winnings await you," the company said in a statement.
Paddy Power has a long tradition of winning free publicity by paying off early, particularly on political contests.
Powers said the biggest winner among the Obama bettors was someone who gambled euro100,000 and got back a total of euro150,000.
The most visionary bettor, though, was the "punter" who put down euro50 on Obama in 2005. At the time, Obama was listed at 50-to-1, so the bettor got euro2,550.
Despite calling the contest, the Dublin-based bookmaker said it is still taking new bets on the race. A John McCain victory Nov. 4 on a bet placed Thursday would pay off euro5 for every euro1 bet. By contrast, each euro1 bet on Obama would net just 11 euro cents.
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