U.S. Presidential Election: Has Mitt blown it?

Is it all going wrong for Mitt Romney?
Mike Robb tells us where it is all going wrong for Mitt Romney, and how, with six weeks still remaining before the polls open, the Republican nominee can redeem himself...
I have always thought Mitt Romney had a real chance of unseating Barack Obama on 6 November. Much was tilted in his favour: an angry and fired-up Republican base, a lack of noteworthy economic recovery, and an incumbent president who has a record in office ripe for challenging.
In Romney we have a serious individual with an indisputable record of building a global business success story, and all at a time when USA Inc. needs just that. The timing, in theory, couldn't be much better.
But more recently I get the feeling that it is all somewhat slipping away for Romney. Too many mistakes have crept in over the last month, really since his failed foreign jaunt to the UK and Israel around the Olympics.
Just this week we had another gaffe from the past, with a recording of Romney lambasting over 50% of the American electorate. In the same speech he claimed that the Palestinians had "no interest" in peace with Israel. Not very helpful, and not very statesman-like.
Whether it was intentional or not to drive an even fierier wedge between left and right, between Republicans and Democrats, and I suspect it was, it is a move that has ferociously backfired. Even staunch Republicans are flabbergasted.
Bill Clinton's speech at the Democratic Convention summed it up nicely: to be president you need to work with all sides and individuals of all views to get things done. Quite simply, Mitt Romney is increasingly appearing to the American electorate not to be that guy.
In betting terms I'm starting to think the previous logic that this, in theory, should be a near flip of the coin come Election Day is not going to stand up. One mistake fine, two ok, three, four, five, six and doubts start creeping in as to when things are going to turn around. That it is suggested these aren't even mistakes but calculated strategic decisions is baffling, and even more worrying from a betting perspective.
That said, the current 1.3130/100 on Barack Obama to win another term, an implied 76% chance, still seems incredibly short. Whilst Romney is doing everything he can to shoot himself in the foot he will still win at least 46-47% of the vote at the very least. The question you need to ask yourself is whether he can turn it around in the next six weeks and articulate a sensible vision for the country, gaffe free, to close that gap.
The three televised debates are crucial in that regard, the 'Hail Mary' play for Romney. With the first of the three debates on 3 October focused on domestic policy, there might just be a chance for Romney to regain control of the agenda if he can nail President Obama on the economy. If he doesn't manage to do that, the 2012 Betfair market will be as good as closed come 4 October.