Irish Bookmaker Pays out on Obama as Next US President Following the concluding presidential debate in New York last night Ireland's largest bookmaker Paddy Power has decided to pay out on Barack Obama as the forty-fourth President of the United States of America. This unprecedented move comes almost three weeks ahead of Election Day on November 4th and sees the bookie paying out in excess of EUR1,000,000 [$1,360,000] to Obama backers. Prior to Paddy Power paying out, Obama was practically unbackable at odds of 1-9 to be the next American President (meaning a bet of EUR90 was required to make EUR10 profit) To date Paddy Power has taken over ten thousand bets on the 2008 US Presidential Election, the majority of which were placed in support on the Illinois Senator over the past 12 months. In fact betting support was so strong for Obama that Paddy Power paid out over EUR50,000 ($68,000) on his successful nomination as the Democratic Party candidate back in January of this year, seven months before the convention. Paddy Power said "We declare this race well and truly over and congratulate all those who backed Obama, your winnings await you. Although the Senator seemed a little off sorts in last nights final debate we believe he has done more than enough to get him across the line on November 4th. The overall betting trends has shown one way traffic for Obama since the start of the summer and punters seemed to have called it 100% correct. It reminds me of the patriotic words of action star Wesley Snipes in the movie Passenger 57......Always Bet on Black!" Incredibly, Obama was a massive 50/1 with Paddy Power to be next President back in May of 2005. One inspired punter had a long range wager of EUR50 at these odds which today returns a cool EUR2,550. The largest single bet placed on Obama to be next President was EUR100,000 ($136,000) in June of this year at odds of 1-2 which returns a whopping EUR150,000 ($204,000) today. Despite today's seven-figure payout, Paddy Power continues to offer betting right up to and including Election Day. One of its most popular bets currently on offer is predicting the winning margin of the successful nominee on November 4th.