Politics / Mathew Thompson / 05 April 2011 / Leave a comment Bet Now View Market

Barack Obama has launched his campaign for re-election as US President this morning, with Betfair punters from across the world giving the Democrat a 63% chance of retaining office next year.

Obama has endured a difficult first term in the White House but that hasn't deterred political punters from more than 50 countries installing the 44th President of the United States as the $1.60 favourite to win a second term in office.

The confidence among Betfair punters that President Obama will be re-elected could be based on predictions that Republican supporters will raise close to $1 billion to bankroll his 2012 campaign. How can anyone possibly defeat a sitting President who'll spearhead the greatest resourced election campaign in American history?

While the Republican Presidential candidate is yet to be determined, punters believe former Massachusetts Governor, Mitt Romney, is the most likely win that nomination just ahead of the former Governor of Minnesota, Tim Pawlenty at $6.

Billionaire businessman Donald Trump has been backed in from a top price of $1000 to a current price of $85 to become the next US President.

Trump has threatened to run for President for many years, yet he can't manage to drag himself away from the boardroom on 'The Apprentice' or relinquish his role running the 'Miss Universe' beauty contest. He has some supporters among Betfair players, although I'd suggest it is more for novelty value.

Betfair's market on the 2012 US Presidential Election opened immediately after Barack Obama was elected as President in 2008. At that time, the very first price matched on him winning again in 2012 was $1.60.

This means that, despite the controversies of President Obama's first-term, punters worldwide believe he now has virtually the same chance of being returned to the White House as he did immediately after being initially elected.

More than $35m was traded by Betfair punters on the 2009 Presidential market alone with over $50m wagered across the suite of markets offered on the election.