Irish bookmaker pays out on Republican victory - before the election

House of the Senate

Ireland's largest bookmaker believes there's no way Democrats can keep control of the House on Tuesday.

In fact Paddy Power, the premiere Irish betting company, is so confident of a GOP win it has already paid off customers who betted the GOP would capture the elusive chamber.

"In our opinion this race is well and truly over with nothing short of a miracle stopping the Republicans taking down the House," Ken Robertson, the communications manager for Paddy Power told the Irish press this week.

The odds have tipped so markedly in favor of Republicans that it made no sense to continue taking bets, Robertson said.

Wednesday's payoff was not first time Paddy Power surprised the nation with an early payoff. In 2008, after the final presidential debate between Barack Obama and John McCain, the Irish bookie concluded that there was no way McCain could win the election and it paid out more than $1 million based on Obama's inevitable victory.

The Irish bookies still feel that control of the Senate remains a hotly contested issue, and Paddy Power give Democrats the edge to keep control, at 2-9 odds.