WASHINGTON, DC -

President Barack Obama is now a bigger favorite to win the race for the White House, according to the online bookmakers.

Sportsbook.com lists President Obama at -340 odds to get reelected. That means if you bet $340 on the President and he wins the election, you win $100 plus your initial investment of $340 or $440 total.

Sportsbook.com lists former Massachusetts Gov. Mitt Romney at +260 odds to win White House. That means if you bet $100 on the President and he wins the election, you win $260 plus your initial investment of $100 or $360 total.

The odds on Romney winning have gone up sharply in the last month.