Betting Market: Muammar Gaddafi Falling From Power Down to 75 Percent From 87.5

The online betting market of intrade.com now has Muammar Gaddafi’s chances of relinquishing power as Libya’s strongman before year’s end at 75 percent.

While this number might look good on the surface, the betting market initially had his chances at 87.5 percent.

Even with talks of a concerted NATO effort to impose a “No Fly Zone” over Libya, Gaddafi seems to be increasing his stranglehold over the nation in recent days. 

Troops loyal to Gaddafi have reportedly bombarded the strategic oil port of Ras Lanuf over the last 24 hours.

Hundreds of opposition fighters left the city in cars and pickup trucks mounted with machine guns. according to reports on the ground.

Al-Jazeera's Tony Birtley reporting from the frontlines just outside Ras Lanuf, said: "We've been wondering for the last few days about why Gaddafi has not employed his full forces and today we've seen those forces in action. We were caught right in the middle as his forces out-flanked, and then out-bombed and out-shot the opposition forces. There was sustained aerial and artillery and mortar bombardment, and then following in by a flanking movement."

There are now renewed fears that Gaddafi’s troops could attempt to overtake the Eastern city of Benghazi, Libya’s second largest. 

- Gilbert Horowitz, Gambling911.com