Since Silver is convinced polls show Obama will win in November and Scarborough believes the race is too close to predict, Silver on Thursday offered a $1,000 wager. Either way, the money would go to the American Red Cross, he tweeted.

But Scarborough isn't about to take the gamble. He tweeted in response that a better idea would be donating $1,000 immediately to the Red Cross. When Silver then attempted to raise the bet to $2,000, Scarborough again said he's ready and willing to match Silver's donation to the Red Cross if he'll donate immediately.

Scarborough, though a former Republican congressman, might not want to bet on Mitt Romney since he has not always been on the side of the GOP nominee this year.

David Axelrod, who on "Morning Joe" earlier this week promised to shave off his trademark mustache if Obama loses any one of three states — Minnesota, Michigan or Pennsylvania — indicated he's offended the two didn't put something more personal on the table. 

"All they bet was MONEY????" he tweeted.