President Obama scored a convincing victory Tuesday night, winning at least 303 electoral votes, and perhaps as many as 332 once the Florida race is called. And while there were some tense moments Tuesday night when it seemed that GOP challenger Mitt Romney might not concede, he eventually bowed out quite gracefully, setting the stage for Obama to declare victory in Chicago. "Despite all the hardship we've been through, despite all the frustrations of Washington, I've never been more hopeful about our future," Obama said to a roaring crowd of liberals. Meanwhile, Romney delivered a short concession speech to supporters in Boston, in which he urged Americans to put aside "partisan bickering and political posturing." Watch both speeches below.

Obama's victory speech:

Romney's concession speech: