I wish Plaw were here to explain it to me yet again, but basically: Obama is the favorite. To win $100 on the bet for Obama, you'd risk $450. A $100 bet on McCain (the underdog) would get you $275 profit if he were to win.
Please don't ask me to explain that. But you can read about it here and maybe understand it better than I do.
You can monitor Sportsbook's odds here, under Hot Events | Exotics: Presidential Odds
Odds are easy (or maybe it's because I grew up in illegal gambling dens?) and you have it down.
But I don't know anyone who would risk $475 for $100 except for gambling addicts who like to lose.
About race: I think the people voting for Obama because he is half black will probably come close to canceling out the ones who don't vote for him because he is half black. Maybe because it is the first time a partially black person has a shot some people won't vote for him, but after that they might feel more comfortable with it. Personally, I don't care what color you are unless you're purple. I don't vote for purple people.
Long as I remember The rain been coming down. Clouds of Mystery pouring Confusion on the ground. Good men through the ages, Trying to find the sun; And I wonder, Still I wonder, Who'll stop the rain.
But you can read about it 
