Prolific high-roller casino craps shooter and presumed Republican Presidential nominee John McCain yesterday placed all his chips behind the Pass Line hoping that his VP selection of a virtually unknown woman, Alaska Governor Sarah Palin, will hit before the croupier calls “7-out, line in” and scoops up all his chips.

The initial shock of his selection has settled as reporters pore over every detail of her background. The Wall Street Journal and its conservative editorial board summed it up this morning with the assessment, “the 44-year-old’s thin political résumé also thrilled some Democratic strategists, given Sen. McCain’s criticism of the experience of his opponent, Sen. Barack Obama. They were quick to note that Sen. McCain turned 72 Friday and would be the oldest person to enter the White House, yet he is trying to put a heartbeat from the Oval Office a woman who has spent less time in the governors’ mansion than Sen. Obama has in the Senate. Just two years ago, she was mayor of Wasilla, a town of 9,780 people.”

His final choices were narrowed down to former Mass. Governor Mitt Romney (who he didn’t like), Tim Pawlenty of Minnesota (who was unknown nationally) and Joe Lieberman an independent Democrat (at least in name) whose prospect of being selected so infuriated GOP strategist Karl Rove that he placed an 11th hour call to Lieberman begging him to withdraw his name from consideration.

All three had much more experience and gravitas then this insult to the intelligence of Hillary supporters thinking the selection of Palin would have women flocking to McCain. Watching the introductory speech, I was reminded of crusty old Lou Grant from the old Mary Tyler Moore television comedy show muttering, “Mary, you’ve got spunk.” And you could see her smile grow as she thought it a compliment just before he added, “I hate spunk.”

It’s spunky, funky, unbalanced and just more than a bit scary. She certainly has more personality than the last unknown Republican choice, Indiana Senator Dan Quayle. His Quayle-isms were a trail feature before W Bush took the title. The most famous quote of his on the campaign trail was before the NAACP, “what a terrible thing it is to lose one’s mind” badly mangling the NAACP slogan, “a mind is a terrible thing to waste.” (A close second was, “China is a big country, inhabited by many Chinese.”).

They won by riding the coattails of a very popular and revered Republican President Ronald Reagan before flaming out after one term to maverick Bill Clinton. This year they are gambling that the choice of Palin will tap into and attract disaffected women, particularly Hillary Clinton supporters (who she named in her speech) and think they will fall for such a cheap ploy.

When Dan Quayle ran in 1988 and debated then Democratic VP candidate senior Texas Senator Lloyd Bentsen he invoked the name of JFK, to which Bentsen replied, “Senator, I served with John Kennedy. You’re no John Kennedy.” While Palin will likely steer clear of that type of mistake against Joe Biden in a debate, one cannot help but worry about her performance against such a seasoned veteran of foreign affairs. Alaska ain’t Kansas Toto.

Casino goers flock to craps tables because, of all the games, it has the lowest house odds meaning, in theory, a gambler has a better chance of winning than the house does. Casinos though are in business to make money and would not have a long-term losing game on its floor. Yes, one can have a brief hot streak at the table and… the House always wins. While dropping a few thousand dollars at the table is within the means of a man with seven houses and $500 shoes, what does it say about his gambling with the economy or war effort?

It’s quite scary because John McCain’s “bold” behaviour over the last several months more resembles that of a compulsive gambler than a seasoned member of the US Senate or President-in-waiting.

He stole the headline but not the bounce, 12-hours after a great Democratic convention in Denver and he faces a hurricane of revolt inside his own party as twin Hurricanes Gustav and Hanna bear down on New Orleans and Florida with the potential to wreak split screen havoc of reminding voters of a huge Bush failure during his convention coronation. To make matters worse, the perfect storm has Bush and Cheney speaking on the first evening, when hurricanes will likely make landfall to remind America why we are in the mess we are.

“Daddy” may not “need a new pair of shoes” as he rolls these dice (a popular gambling refrain as dice are tossed into the pit) but his flip-flops, temperament and nervous chuckle are wearing thin.

7-out, line in.