US Politics / Ari Last / 05 November 2008 /

A long thrilling campaign has come to an end. Barack Obama has made history, the American people have made history, electing an African American as their leader for the first time. Barack Obama's triumph is indeed a glorious one, and below we take a look at the key moments in a campaign that ultimately ended with a momentous, earth shattering decision made by a nation desperate for change.

Key points on the graph:

A: Obama wins in Iowa, propelling him into the lead for the Democratic nomination. % chance: 47% Barack Obama, 15% John McCain

B: The lead is short-lived as Hillary Clinton pulls off a shock win in New Hampshire. % chance: 25% Barack Obama, 15% John McCain

C: John McCain secures the Republican nomination after Super Tuesday on 5th February. % chance: 30% Barack Obama, 33% John McCain

D: Barack Obama finally looks to have secured his party's nomination following a primary win in North Carolina. % chance: 56% Barack Obama, 35% John McCain

E: The 'Palin Bounce' starts a period of recovery for the McCain campaign. % chance: 62% Barack Obama, 38% John McCain

F: This rise did not last long and from the day Lehman Brothers went bankrupt the gap got ever wider. % chance: 55% Barack Obama, 45% John McCain

Other key moments:

The Race Speech in Philadelphia - March 18th 2008

Obama's groundbreaking speech in Philadelphia on March 18th resonated through the heart of America. In it he skillfully distanced himself from the extremist, anti American comments made by his former Pastor Jeremiah Wright, and at the same time he informed the watching world that his knowledge and understanding of racial tension both historically and in modern day society was second to none. The address was convincing in its content and masterful in its delivery. It announced to the world that Barack Obama had truly arrived.

Obama destroys Clinton In North Carolina - 6th May 2008

This was the moment many say virtually assured Obama of the Democratic nomination. The Betfair markets reflected this with Obama's chance of Presidential success rising rather dramatically. His margin of victory in North Carolina was significant, he gained three times as many votes as his rival Senator Clinton and it was this great margin of success more than the actual victory that provided the knockout blow to Senator Clinton's chances.

Obama Ousts Hilary Clinton - June 3rd 2008

Obama upset the odds by beating Hilary Clinton to the Democratic nomination. In political terms the man is a novice yet his charm and charisma, and his focus on change at a time when America needed it most, saw him chosen over the experienced, wily Clinton. It was a choice the Democrats needed to make, and for this bold move, they have reaped the rewards.

Choosing to Raise His Own Funds - 19th June 2008

Obama's decision to raise his own funds and forgo the $84 million offered by the State was critical. His fundraising abilities have proved to be immense and as a consequence, he has been able to outspend his rival by almost double. The democrats have spent almost $500 million dollars on their campaign. They spent the mountains of cash wisely, engulfing the streets and taking over the airwaves. McCain on the other hand finished the campaign practically broke.

Choosing Sarah Palin - 29th August 2008

It's fair to say that the John McCain's choice of Sarah Palin as the Vice Presidential candidate turned out to be a disaster. Yet immediately after John McCain announced the Alaskan Governor as his running mate the choice looked inspired. Palin delivered a monumental acceptance speech in early September and the Betfair Market reflected this. "The Palin Bounce" though was short lived. It didn't take long, only a few frank interviews in fact, for many to realize that the ultra-conservative self described "hockey mum" at this moment in time, did not possess the required substance to help carry her party to victory, in the face of an almighty opposition. Palin ended up being a figure of ridicule in the States and her list of gaffes makes for distressing reading for any Republican supporter.

Economic Turmoil: The Collapse of Lehman Brothers - 15th September 2008

Obama and his campaign machine deserve plenty of credit but not even the staunchest Democratic supporter can claim that the world economic crisis has not massively helped their party's cause. Poor old John McCain, the specter of the Bush administration proved too haunting in the end and it is admirable that he remained reasonably popular to the end, despite the gross unpopularity of the administration whose party he was representing. Betfair market trends will show that the day Lehman brothers collapsed was also the day that the Republican campaign waved goodbye to any hopes of victory. McCain's lackluster response to the economic turmoil didn't help, especially when one considers Obama's strong performance on the issue.

Colin Powell Endorsement - 19th October 2008

Colin Powell's ringing endorsement of Senator Obama in October acted to solidify the superior position of Barack Obama in the hearts and minds of the American electorate. Powell, the former Secretary of State was blunt in his views that Obama had the edge when it came to the economy, and his description of a possible Obama victory as "electrifying" was like a dagger into the heart of his "old friend" John McCain.

Time for Change: Obama wins by a Landslide - November 4th 2008

While it was widely predicted that Barack Obama would win the election, nagging fears lingered in the minds of even the most optimistic Democrat that somehow victory would be snatched away from them

"The Bradley Effect" as well as other possible routes to Republican victory were contemplated by many, yet in the end, Barack Obama sailed through election night without cause for concern. He was never trailing and his victories in key States such as Ohio and Pennsylvania ensured that the result was never in doubt.

John McCain deserves much credit. He conducted himself superbly throughout the campaign and in defeat he has gained many friends. His concession speech will be appreciated by all, it was gracious, sincere, and provided a true reflection of the man who will no doubt be crushed at missing out on his dream of leading a country he loves dearly.

Yet the night belonged to Barack Obama, whose acceptance speech will go down in history as one of the defining addresses of our time. It was so engaging and so supremely convincing that even despondent Republicans would have been hard pushed to hold back a smile or applause in Obama's direction.

His win was glorious and tonight will no doubt be one to savor , but Barack Obama will be well aware that the hard work starts now, and that tomorrow brings with it the challenge of implementing the grand promises of change he has made to a now highly jubilant but expectant nation.

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