The 2008 Presidential Election may be 22 months away, but that won’t stop you from betting on which party takes control of the White House, if you are so inclined.

In fact, at online sportsbook betED, you can bet on a whole host of things that aren’t sports-related, with the 2008 election serving as one of the marquee wagers.

As of right now, and continuing through January 31, 2007, the Democrats are favored with a -150 money line (a $150 bet wins you $100). The Republicans, at +100 (bet $100 to win $100) are the underdogs.

Despite the anti-Republican sentiment that swept the Democrats into power in both houses of Congress in November, these odds seem a bit surprising. Sen. John McCain (R-Arizona) may be the strongest candidate from either party, though it’s certainly too early to call. With the exception of John Edwards, no candidate considered to be a serious contender for his party’s nomination - right now - has officially declared.

Maybe betEd knows something we don’t. In any event, we’re just passing this along. You know, in case you want to make the upcoming campaign a little more interesting. If you think betting on a things such as this or a U.S. Senate race is ridiculous, well, you’re right. But if you think that means no one would do it, think again.

On an unrelated note, China (-135) is currently favored over the U.S.A. (-115) as far as which nation lands on the moon first - though bets are null if neither nation lands on Earth’s only sattelite before December 31, 2010. Come on, America. Get it together.