Axelrod lets Scarborough out of bet by wearing fake mustache off air

Senior Obama campaign adviser David Axelrod on Thursday said that he would let MSNBC host Joe Scarborough out of a bet that would have forced him to grow a mustache.

In an appearance on MSNBC last week, Axelrod of 40 years if President Barack Obama lost Michigan, Minnesota or Pennsylvania. In return, Scarborough promised to grow a “Freddy Fender-like” mustache if Mitt Romney lost North Carolina and/or Florida.

While the the voting has not been completed in Florida, Scarborough conceded on Thursday that that Obama was likely to win.

"I don't want to see and you don't want to see me setting next to him with a mustache," co-host Mika Brzezinski told Axelrod. "That's not going to work."

In the end, Scarborough agreed to host a fundraiser to raise funds for an epilepsy cure, donate $10,000, wearing a fake mustache during the event and sing a Freddy Fender song. For his part, Axelrod said he would still shave his mustache on air if Scarborough and Brzezinski could raise at least $1 million for the cause.

Citizens United for Research in Epilepsy (CURE) has created a "Slash the Stash" website to accept donations.

Axelrod has said that a cure became the "cause of his life" after his daughter, Lauren, was born with epilepsy.

Watch this video from MSNBC's Morning Joe, broadcast Nov. 8, 2012.