f the betting in England is any indication on who will be in the White House for the next four years, we can expect President Obama to be re-elected.

Over 90 percent of the bets placed on the U.S. presidential election with English bookmaking giant William Hill over the past 24 hours have been for Obama, the largest being a £9,000 ($11,600) bet from a Coventry punter, better known as a bettor to all of us here in the States.

The furious onslaught of action on Obama led William Hill to adjust his favored odds from -225 to -250 (Bet $250 to win $100), while trying to attract more attention to Mitt Romney – the underdog – by increasing his odds from +175 to +200.

"Obama seems to be drawing ahead as the race reaches the final furlong, and punters are beginning to back him as though defeat is out of the question," said Hill's spokesman Graham Sharpe.

Obama had been as high as -700 before the debates. Romney impressed several political analysts in the first debate, which influenced the English betting line dramatically.

William Hill also has opened wagering on who will win the 2016 U.S. election, installing Romney as 9/2 favorite, with Hillary Clinton and Paul Ryan both at 7/1.

Wagering on political elections is not permitted in the state of Nevada.