Paddy Power pays out on Obama victory

The bookmaker is pretty certain of the outcome.

Paddy Power, the Irish bookmaker, has paid out on all bets that Barack Obama will win the US presidental election a day early, claiming that Obama is "a nailed-on certainty" to win a second term.

The move is part publicity stunt, part business move, and part a betting company taking a bet on the election – to the stake of $650,000, according to a press release from Paddy Power.

The publicity stunt aspect is pretty obvious – you're reading this story, after all – but the business move is slightly more interesting. Paddy Power, as with any betting company which pays out early, hopes punters will re-invest their winnings in a more uncertain bet on the election. The bookmaker is pushing the idea that the margin of victory is a fun bet to take part in, and it's certainly one where you could win more money: the odds of an Obama victory bottomed out at just 2/9, while if you follow Jim Cramer's prediction of a gigantic Obama victory, you could get 25/1.

And as for the bet on the election – well, Paddy Power will be pretty annoyed if they've called it wrong and have to pay out on Romney as well.

Paddy Power in 2011, when the company changed its name to celebrate Obama's visit to Ireland. Photograph: Getty Images

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.

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Leave.EU is backing a racist President - why aren't more Brexiteers condemning it?

Our own homegrown Trump trumpeters. 

The braver Republican politicians are condemning Donald Trump after he backtracked on his condemnation of far-right protestors in Charlottesville. “You had a group on one side and group on the other,” said the US president of a night in which an anti-fascist protestor was run over. Given the far-right protestors included neo-Nazis, it seems we’re heading for a revisionist history of the Second World War as well. 

John McCain, he of the healthcare bill heroics, was one of the first Republicans to speak out, declaring there was “no moral equivalency between racists and Americans standing up to defy hate and bigotry”. Jeb Bush, another former presidential hopeful, added: “This is a time for moral clarity, not ambivalence.”

In the UK, however, Leave.EU, the campaign funded by Ukip donor Arron Banks, fronted by Nigel Farage, tweeted: “President Trump, an outstanding unifying force for a country divided by a shamefully blinkered liberal elite.” A further insight into why Leave.EU has come over so chirpy may be gleaned by Banks’s own Twitter feed. “It was just a punch up with nutters on all sides,” is his take on Charlottesville. 

Farage’s support for Trump – aka Mr Brexit – is well-known. But Leave.EU is not restricted to the antics of the White House. As Martin Plaut recently documented in The New Statesman, Leave.EU has produced a video lauding the efforts of Defend Europe, a boat organised by the European far-right to disrupt humanitarian rescues of asylum seekers crossing the dangerous Mediterranean Sea. There are also videos devoted to politicians from “patriotic" if authoritarian Hungary – intriguing for a campaign which claims to be concerned with democratic rights.

Mainstream Brexiteers can scoff and say they don’t support Leave.EU, just as mainstream Republicans scoffed at Trump until he won the party’s presidential nomination. But the fact remains that while the official Brexit campaign, Vote Leave, has more or less retired, Leave.EU has more than 840,000 Facebook followers and pumps out messages on a daily basis not too out of sync with Trump’s own. There is a feeling among some Brexiteers that the movement has gone too far. "While Leave.EU did great work in mobilising volunteers during their referendum, their unnecessarily robust attacks and campaigning since has bordered on the outright racist and has had damaged the Brexit cause," one key Leave supporter told me. 

When it comes to the cause of Brexit, many politicians chose to share a platform with Leave.EU campaigners, including Labour’s Kate Hoey and Brexit secretary David Davis. Some, like Jacob Rees-Mogg, get cheered on a regular basis by Leave.EU’s Facebook page. Such politicians should choose this moment to definitively reject Leave.EU's advances. If not, then when? 

Julia Rampen is the digital news editor of the New Statesman (previously editor of The Staggers, The New Statesman's online rolling politics blog). She has also been deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines.