Georgia Senate Runoff Election Gambling Odds

The runoff election for Georgia's two senate seats is on Tuesday. The stakes are very high for Republicans and Democrats because the election is effectively for control of the Senate. If Democrats win both seats, it will be 50-50, with Vice President-elect Kamala Harris serving as the tie-breaking vote. If Republicans win one or both seats, they maintain control of the Senate.

Over at the UK book Paddy Power, which, like OutKick's gambling partner FanDuel is owned by Flutter, here are the odds for the races:

David Perdue (R): 10/11 (-110)
Jon Ossoff (D): 10/11 (-110)

Kelly Loeffler (R): 5/4 (+125)
Raphael Warnock (D): 4/7 (-175)

What this means is that David Perdue and Jon Ossoff are in a dead heat where there is no current betting favorite. For both of them, you would need to risk $110 to win $100. In the other race, Raphael Warnock is favored, but not necessarily prohibitively. You would need to risk $175 to win $100 on him. If you risked $100 on Senator Loeffler and she won, you would win $125. If this were a football game, Warnock would be favored by perhaps a field goal or less.