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Domingo Tavella

(41 posts)
Sat May 12, 2012, 10:11 PM May 2012

Market view of Obama reelection odds

One of the more objective indicators of Obama’s reelection chances can be found in the betting markets. Over the last few months, Obama’s reelection probability had held steady at about 60%. This started to change with Romney’s attacks, which caused a gradual slide of the reelection odds over the last few weeks. Obama’s pronouncement over gay marriage has added significantly to this gradual slide. To visualize this, take a look at the chart here and expand the graph to show the last month’s values. https://data.intrade.com/graphing/jsp/closingPricesForm.jsp?contractId=743474&tradeURL=https://www.intrade.com
Although by no means perfect, the betting markets are minimally affected by ideology and are able to turn available information into an objective prediction.
I wonder where were the cool heads when Biden decided to force Obama’s hand in the issue of gay marriage. A sincere effort to pursue greater justice may now end up in a constitutional amendment writing injustice in stone.

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Market view of Obama reelection odds (Original Post) Domingo Tavella May 2012 OP
the cooler heads are on Biden and Obama's shoulders. Schema Thing May 2012 #1
It's still considerably higher than it has been for a long time on Intrade DavidDvorkin May 2012 #2
Oh, and Intrade isn't an objective indicator DavidDvorkin May 2012 #3
There is no real slide. Drunken Irishman May 2012 #4
you're correct - a 60%/61% to 59% adjustment as Romney became the presumptive nominee and started Douglas Carpenter May 2012 #6
This is all that matters cindyperry2010 May 2012 #5
New Jersey is not "lean Democratic", it is "solid Democratic". Dawson Leery May 2012 #7
You can use this map too. aaaaaa5a May 2012 #8
And my guess is that, at the end of the day, CO is almost a near-lock. Drunken Irishman May 2012 #9
Yes the electoral college actually looks even better than the national numbers aaaaaa5a May 2012 #12
At the risk of fostering complacency Proud Liberal Dem May 2012 #19
So Obama's intrade chances slid from 59.6% in March to 59.3% today. LetTimmySmoke May 2012 #10
At this rate, he'll be down to...58.4 by election day... Drunken Irishman May 2012 #11
Wish you were right... Domingo Tavella May 2012 #15
I'M SO SCARED, MAN! Drunken Irishman May 2012 #16
"....you have to take into account the rate of the rate, which is quite significant." yellowcanine May 2012 #17
This is what you do with your 19th post on DU? Lament Obama's marriage equality statement? stevenleser May 2012 #18
and today, Intrade's got re-election chances at 55.8% a kennedy Aug 2012 #21
University of Iowa did a study of the accuracy of prediction markets intaglio May 2012 #13
it's now at 59.5% so things are looking up Douglas Carpenter May 2012 #14
Trending up today Johnny2X2X May 2012 #20

DavidDvorkin

(19,480 posts)
2. It's still considerably higher than it has been for a long time on Intrade
Sat May 12, 2012, 11:07 PM
May 2012

It's hanging fairly steady between 59 and 60%

Meanwhile, Romney has dropped below 36%.

I don't see a problem.

 

Drunken Irishman

(34,857 posts)
4. There is no real slide.
Sat May 12, 2012, 11:09 PM
May 2012

Intrade puts Obama's chances at 59.3% right now - hardly significantly down from where they were the last week. Yes, he's lower than the 60% he saw throughout much of February, March & April, however, the supposed 'slide' also started when Romney essentially locked up the Republican nomination - which was to be expected as he was no longer going to be pulled down by campaigning and his numbers improved significantly, as the markets coalesced around that idea.

Look at Romney's numbers over the same period:

https://data.intrade.com/graphing/jsp/closingPricesForm.jsp?contractId=743475&tradeURL=https://www.intrade.com

In fact, Romney is doing worse today than he was in February, even with having locked up the Republican nomination. What you're seeing Obama's side is nothing more than static - as a 2 point drop is essentially nothing here and that's what we're pretty much looking at.

Wake me when Obama is back down to 50% and then I will suggest the gay marriage announcement significantly hurt his campaign. As it is right now, it's had little impact on the market.

Douglas Carpenter

(20,226 posts)
6. you're correct - a 60%/61% to 59% adjustment as Romney became the presumptive nominee and started
Sat May 12, 2012, 11:30 PM
May 2012

to consolidate Republican support is not a significant indicator of the reaction to Obama's shift in position on Marriage equality. In fact it does not really indicate anything at all. Minor adjustments of 1% to 3% occur on prediction markets on an almost daily basis. Whether this shift by Obama creates a net gain or a net loss simply cannot be evaluated at this time.

 

Drunken Irishman

(34,857 posts)
9. And my guess is that, at the end of the day, CO is almost a near-lock.
Sun May 13, 2012, 03:16 AM
May 2012

The electoral college just is not favorable to Romney. It's very similar to the Democrats' in the 80s.

aaaaaa5a

(4,667 posts)
12. Yes the electoral college actually looks even better than the national numbers
Sun May 13, 2012, 04:10 AM
May 2012

There is a viable path to 270 for Obama that does not even include, NC, OH, VA and FL. Yes, that's right. Obama can get to 270 losing all 4 of those states simply by winning NH, IA, CO and NV. Obama has multiple paths. Romney really only has 1.

Proud Liberal Dem

(24,416 posts)
19. At the risk of fostering complacency
Mon May 21, 2012, 05:31 PM
May 2012

some maps I've seem suggest that Romney could sweep all of the toss-ups and STILL lose! The odds of him doing that, however, unless things just get simply atrocious somehow, seem pretty miniscule. The Republicans would have to have a REALLY good and run the tables for something like that to occur- and if that did happen (heaven forbid), then strap on your seat belts because we would then not only be looking at a President Romney but also Senate Majority Leader Mitch McConnell and at least another 2 years of Speaker John Boehner. Just try to put that image in your minds (and the minds of your friends and loved ones) when you think about possibly not voting in November!

 

Domingo Tavella

(41 posts)
15. Wish you were right...
Sun May 20, 2012, 01:08 PM
May 2012

Please look at the chart again. In the last two months, Obama's odds have dropped by 4 percentage points (from 60.5 down to 56.5 today). The dropping is steady and increasing. At this rate, he would drop by over 10 points by election day, giving Romney an edge of about 4%. Unfortunately, simply looking at the current rate of drop underestimates the odds, you have to take into account the rate of the rate, which is quite significant. This is very bad news for Obama and the country. Enjoy this brief interlude of civilization while it lasts.

 

Drunken Irishman

(34,857 posts)
16. I'M SO SCARED, MAN!
Sun May 20, 2012, 01:32 PM
May 2012

Give me a fucking break. You're a concern troll. Wake me when Romney overtakes him. Until then, who cares if he's at 60% or 57%?

yellowcanine

(35,699 posts)
17. "....you have to take into account the rate of the rate, which is quite significant."
Mon May 21, 2012, 02:27 PM
May 2012

And where is this analysis of the "rate of the rate" which you say is "quite significant"? By the way there is no term in statistics of "quite significant." There is significant at some probability level, usually p = 0.05 or p = 0.01. Sometimes if p = 0.01 the term, "highly significant" is used. But "quite significant" is not a term used in statistics. There is just "significant" or "highly significant." However it is used in seat of the pants analysis, which is what you are doing. AKA "bullshit statistics."

 

stevenleser

(32,886 posts)
18. This is what you do with your 19th post on DU? Lament Obama's marriage equality statement?
Mon May 21, 2012, 03:04 PM
May 2012

I would say welcome to DU but I would be lying if I said I wanted to welcome you.

intaglio

(8,170 posts)
13. University of Iowa did a study of the accuracy of prediction markets
Sun May 13, 2012, 04:54 AM
May 2012
Link to Science Direct and the abstract/paper

The study was done back in 2008 and covered elections through 2004. It seems that over "longer horizons" (which I take to mean more distant from the actual poll) they are more accurate than opinion polls. Not that the current InTrade market is only about the chance of the President remaining the president - it says nothing about margins or electoral college results

Johnny2X2X

(19,074 posts)
20. Trending up today
Tue May 22, 2012, 10:12 AM
May 2012

Obama is up .19 today as the fallout from Marriage Equality evens out.

Intrade is non partisan.

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