Betting on 2008 Russian Elections

Interesting article from the St. Petersburg Times:

But Shans has been careful in offering bets not on election results, but on changes in the popularity ratings of individual politicians and parties.

“And we will stop taking bets when the election campaigns officially begin,” said Oleg Zhuravsky, head of Shans and executive director of the National Association of Bookmakers.

…

Ireland’s Intrade offers contracts that will pay off 100 monetary units — the choice of currency is up to the gambler — if a certain figure becomes president.

Oddly enough, Putin, who is barred constitutionally from running for a third consecutive term, has topped the action, with 128 contracts sold for 11.5 units, meaning, for example, that an $11.50 bet returns $100.