Joined: Aug. 2008
|Quote (dheddle @ Oct. 16 2008,12:45)|
|Quote (oldmanintheskydidntdoit @ Oct. 16 2008,11:40)|
| DUBLIN (Reuters) - Ireland's biggest bookmaker Paddy Power said Thursday it would pay out early more than 1 million euros (782,776 pounds) on bets that Barack Obama will be the next U.S. president, three weeks ahead of the election.|
The Dublin-based bookmaker said it made the "unprecedented decision" to pay on bets taken so far, following Wednesday's final campaign debate between Obama and his Republican rival John McCain, which polls judged the Democrat to have won.
"We declare this race well and truly over and congratulate all those who backed Obama," Power said.
I saw that--it makes no sense whatsoever. Suspending betting makes perfect sense--but hold on to the payouts as long as you can and earn some interest. There must be an explanation. Am I missing something obvious?
To be honest, I thought this was odd too. If for nothing else than the fact that betting houses like to hold on to every cent for as long as they can.
This also reminds me of then they increased the chances that Palin would be dropped from the ticket because of the teenage pregnancy thing. It's interesting how what is a liability in the politics of one country is nothing (or even an asset) in another.