Your calculations are useful in one respect: you will show if there is any arbitrage play available between the direct electoral vote market and the individual state markets. However, you'd have to make a whole lot of trades to make such an arbitrage play so it would be time consuming to try it, not worth it unless you were betting large amounts.
A big player could swing this market. The name of Soros comes to mind.
"BUSH.ELECTORALVOTES" has an extremely low volume, making it inaccurate.