Just a small tip, m'FRiend. If you do **actually** have a punt on the Pubbie candidate, make it with Ladbroke's: their service is excellent, their odds posting is generally unbiased by the press (which may suggest an arbitrage to you...bonus idea!) and they do not (unlike Las Vegas) give a tinker's damn in which state you live. Have to do a tiny bit of research as to opening your account, but this IS the way to go.
Same for the actual election, of course.