No it wouldn't. That's not quite how it works. By setting the odds, bookies can encourage people to bet both ways such that no matter who wins, the payout is the same. No bookie would offer such a bet straight up at this point. They manage their risk fairly well. Their goal is to match bettors together - someone willing to risk $10 on Obama to earn $1, vs. someone willing to bet $1 on McCain to earn $10. Bookie gets 10% of the amount lost.Originally posted by: Arkaign
It benefits them from having to pay off a (near) certain truth : Obama victory.
Still, would be better if they just suspended betting instead.
EDIT : To clarify, I meant from having to pay off the flood of NEWLY incoming bets flooding for Obama.
If they receive 10,000 bets for Obama, and 500 bets for McCain, then even though the payoff for an Obama bet wouldn't be huge, it would probably still be a losing matter for the bookies.