The joy of inefficient markets
In the "put your money" where your mouth is department, apparently bookmakers in the U.K. are offering higher odds against Romney winning than here in the United States. This creates a "middle" or arbitrage opportunity.
As of this writing, one can sell 240 shares of Mr. Romney at $3.23 at Intrade. One can also bet $600 at 3:1 odds on Mr. Romney at Ladbrokes. If Mr. Romney wins, you have to pay a net of $1624.80 to Intrade, but you'll receive $2400 on your $600 bet at Ladbrokes. Net gain: $175.20. If Mr. Obama wins, you receive $775.20 from Intrade, but you'll lose your $600 bet at Ladbrokes. Net gain: $175.20. It's not enough to make a living on, but it's more than enough to cover the transaction costs.
One small catch, alas. You can't legally place the wager at Ladbrokes from the United States. But if any of my Canadian friends wish to exploit this opportunity, I'll gladly accept a finder's fee.