Odds are a little simplistic because there is no way to verify what they really are other than what gamblers think they are. All we can really say is that if Obama wins then making him the favorite was justified. If he loses than Willard pulled an upset or the odds were wrong in the first place. Hard to know which. I read an article in Barrons that said Romney was the favorite but state polls don't bear that out. Even RASSmussen has the race even.