Quote from atticus:
They are (delimited) digital options. Digitals refer to bets that payout at expiration. These differ in the sense that something could happen to either candidate prior to the election outcome.
The largest mkt is intrade.com in notional terms. The current line is 67/100 for Obama to win. So a $2 bet wins $3 (inclusive of stake). $4 returning $5 would represent an 80/100 wager, and that's simply not reflected in the intrade.com betting. A 4/5 payout is poor.
Romney is 33/100 on intrade.com. A $1 wager returns $3 ($4 returns $12), so your Romney wager is also poor, but not as bad as Obama at 4/5.
You risked 1 to get 1 with me!