It looks like Rudy Giuliani’s decision to bet it all on Florida isn’t paying off. The early returns from today’s GOP Florida primary don’t look promising for Giuliani.

The Associated Press reports that John McCain and Mitt Romney are locked in a tight race for first.

The winner will gain all 57 delegates at stake for the party’s national convention. It’s the biggest haul thus far in the early season primaries and caucuses.

Giuliani focused on Florida earlier than the other Republican candidates, who were busy campaigning heavily in Iowa, New Hampshire and other early season states.

Yet heading into today’s primary, the polls showed Giuliani badly trailing the two frontrunners.

Should Giuliani lose, there’s already talk that he could drop out of the race.

Whatever happens with Giuliani, there’s something to be said for a strategy of building momentum early in the campaign season.

— John Guerriero