Austrians have strong philosophical objections to the application of probability theory to most of the real world, but that didn’t stop Walter Block from publicly offering to bet at 200:1 odds that Ron Paul will be elected president:

Can’t happen? Give me some odds on a bet. (According to some polls, the odds against Ron winning are 200-1). I’m willing to put up $1 against the $200 of all suckers, sorry, I meant takers, that my favorite Texas Congressman will win.

I took the bait, on the condition that I could blog it: I’ve bet my $200 to Walter’s $1 that Ron Paul will not be the next U.S. president.

You’re all witnesses!