US election hopeful John McCain has had his odds in the American presidential race cut by bookie William Hill, who say the senator is definitely catching rival Barack Obama in the election betting.

We have cut McCain’s odds from 2/1 to 13/8 after taking bets of up to £5,000 on the Arizona senator to beat Obama and win the race to become the next US President.

At the same time we have lengthened Obama, who remains the favourite, from 4/11 to 4/9.

Given the current international situation and the fact that there seems to be little between McCain and Obama in the opinion poll results, punters have been backing the outsider McCain to win the presidential race, and as a result his odds have shortened.

The two are now closer in betting terms than at any time since Obama won his Party’s nomination.

The biggest bets we have taken for McCain include two of £5,000 another of £4,000 from a client who bets regularly on politics with some success – whereas the biggest bet for Obama in August was one of £1,000 from a London betting shop customer.

We predict that more than £10 million will be gambled on the outcome of the US presidential election before it is finally settled.

Posted in The Sharpe Angle