With just one week to go until America goes to the polls for the 2008 US Presidential Election, things are really beginning to heat up with John McCain vigorously trying to fight back in the race for the White House.

Paddy Power might have already declared this year’s US election ‘done and dusted’ by paying out three weeks early on Barack Obama becoming the next US President, but bets are still flooding in on the Republican nominee, so much so that Paddy Power have been forced to shave McCain’s odds from 11/2 to 5/1.

Paddy Power explains: “In the last few days we’ve seen a surge in support for McCain and because he’s at very attractive odds compared to Obama the potential payout on McCain for President could see us out of pocket for more than €1.75million ($2.19million)

A McCain victory would be a double blow to the cheeky bookmaker who earlier this month paid out over €1million ($1.25million) to punters who backed Obama, in effect calling this year’s Election.

If McCain manages to crawl back in the polls and go on to win the election on November 4th, Paddy Power will end up paying out a total of almost €3million ($3.75million).

US ELECTION BETTING

Next President
1/9        Barack Obama
5/1        John McCain

Handicap Betting
5/6      Barack Obama  -170
5/6      John McCain     +170
33/1      Handicap Tie    
* Applies to total Electoral College votes won from individual states           

How many of Bush's 'Six-Pack' states can John McCain hold on to?              
(Six-Pack states = Colorado, Florida, Nevada, North Carolina, Ohio, Virginia)

10/11    None     
  11/4    One      
    4/1    Two      
    8/1    Three    
 12/1     Four      
 18/1     Five      
 25/1     Six   

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