I'm not saying there isn't a profound difference in calculating the probabilities, there is. But in each case, it IS a probability and not a predicted score like it is in an election.
Yes, there is random chance in cards, but it's very predictable, moreso than football. The odds in cards are exact because there are only 52 cards in the deck and everyone knows what they are. Football is actually far more random because it involves actions of human beings, not to mention the ball can bounce funny.
It's only qualitative similarity in that the percent quoted by the FPI is a prediction as is the predicted outcome of a card game. The card game is an exact percentage and mathematically accurate however. My point in bringing in the poker analogy is that anyone who has played a lot of hold em knows that on any given hand, the favorite can and often does lose (and it can be very painful when it does!). The averages only apply to very large sample sizes, on a given hand literally anything can happen.
Having said that, from their blog ESPN is saying they base the prediction on statistics from previous games and that they use regression, and that they have repeatedly tweaked the system to make it more accurate. It's a reasonable way to do probability for sports, since it's based on a very large sample size.
It's not perfect, nothing is, but their reported performance is pretty good.