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2012 US Presidential Elections Latest - Republicans making big gains in US mid-term elections

Barack Obama's popularity is sliding
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The sweeping gains made by the Republicans in the US mid-term elections have resulted in a shakeup in the 2012 US presidential election betting.

Tea Party backer Sarah Palin a prominent market mover. The former Alaska governor and 2008 Republican vice-presidential candidate has been cut to 9/1 from 10/1 to become president in 2012.

Rising Republican star Mitch Daniels has been cut to 16/1 (from 20/1), while John Boehner, who is expected to take over as House leader, is quoted at 25/1.

The results are viewed as an appraisal of President Obama’s performance since he was elected on a platform of hope and change in 2008. Obama remains strong favourite to be re-elected, although his odds have drifted to even money from 10/11. Having lost control of the House of Representatives, Obama will have to contend with much greater opposition to push through legislation and may even face attempts to repeal his healthcare reform.

Sky Bet spokeswoman Helen Jacob told Bettingpro earlier today; “The results have dealt Obama a grave blow and his popularity ratings are in freefall but past presidents have recovered from mid-term slumps and he remains short priced favourite to be re-elected.”

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2012 US Presidential Elections Latest - Republicans making big gains in US mid-term elections

The sweeping gains made by the Republicans in the US mid-term elections have resulted in a shakeup in the 2012 US presidential election betting.

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