The main plot hinges on Bobby Devito scrambling to find a candidate to run against the popular Christine Alexander for student body President, which is necessary because Bobby's been taking bets on the election (in excess of $2000 according to the dialogue). The problem with his plan is that he's taking bets from the very people who will be voting in the election. In other words, for him to win it would require that the majority of students bet money that Christine Alexander would win the election, and then vote against her.