Alright, get all your fucking homework and everything done for tomorrow, then go round up a bunch of your friends and print out some blank USA state maps.
Fill the maps out with red and blue markers depending on how you think each state will end up voting.
Go grab a bunch of beer or liquor or whatever and start chillin' and watchin' dat MSNBC.
Every time a round of polls close and a cycle of state results comes in, see how many states you got wrong and take a shot/chug a beer for every one you fucked up on.
Ordinarily this would kill you because pretty much everybody is gonna miss like 20+, but remember that the results come in over the course of like 5 hours, so you'll just get super drunk or pass out before you get alcohol poisoning.
If you don't want to get totally blackout, you can let people use some of the online polling information to help make their guesses. These will be innaccurate enough that even if you just copy them you'll still miss like 10 states, so there's still some legit gambling involved. DONT USE EXIT POLLS though, those might be too cheap.
Will the dems get a fillibuster-proof majority of 60 seats in the House? Y/N - incorrect answer takes a shot
Overall Election Winner (McCain or Obama) - Incorrect answer takes two shots
Anyway, now you know what I'm doing all night, get after it!
Oh, and here's the map we're using if you want to do this: