GOP seen keeping U.S. Senate, online markets say

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http://today.reuters.co.uk/news/articlenews.aspx?type=internetNews&storyID=2006-11-06T222009Z_01_N06598722_RTRIDST_0_OUKIN-UK-MARKETS-ELECTIONS-WAGERS.XML

GOP seen keeping U.S. Senate, online markets say

NEW YORK (Reuters) - Online traders in contracts on the outcome of Tuesday's U.S. Congressional elections are putting their money on the Democrats recapturing the House of Representatives, but if their wagers are any guide, the Republicans are likely to hold on to the Senate.

On tradesports.com, an Irish online betting site, the latest prices reflect just a 25 percent chance that the Republican party will retain control of the House.

But the chances of the Republicans holding the Senate edged up a few percentage points from late last week to almost 75 percent.

"I say buy GOP now while its cheap," said one trader in a chatroom on the tradesports.com Web site. "I just bought a bunch," he said, referring to a contract that pays out $100 if the Republicans retain control of the Senate.