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In the end, despite losing, Morgan Philpot may have positioned himself nicely for a future in politics.

The Republican who took on the Democratic behemoth in Utah politics — Rep. Jim Matheson — was given little chance of winning the race, and polls indicated he was trailing anywhere between 12 and 26 points late in the 2nd Congressional District race.

By early Wednesday morning, the unofficial results from the Lieutenant Governor's Office showed that Philpot lost by five points — the closest margin Matheson has seen since his 2002 re-election campaign against Republican John Swallow.

The race wasn't called until about midnight, and Philpot held off conceding it until about noon Wednesday, when he called Matheson and said it was "a hard-fought race."

Matheson officials said Philpot was gracious, though some observers were surprised he waited so long to concede.

"I wished him well and asked him [Matheson] to serve Utah proudly in Washington, D.C," Philpot said. "It was a privilege to run against him."

Whether or not Philpot runs against Matheson again or takes a crack at the new district Utah gains in 2012, however, is up to Philpot, according to Utah Republican Party Chairman Dave Hansen.

Hansen said the party initially had trouble finding anyone to take on Matheson — especially after drubbings delivered by the Democrat in 2006 and 2008 to Republican challengers. He said optimism wasn't high for Philpot early on in the process, either.

"The expectation level was very low," Hansen said. "But he far and away exceeded that, and people are going to say next time, 'You're the guy in whatever district, or however that district comes out.' "

Philpot said Wednesday he hasn't ruled out another congressional run.

"I'm keeping my options open," he said.

Hansen said Philpot grew as a campaigner in a high-profile race and, even though he'd had some experience in running for the state House, setting his sights on a congressional seat in Utah is more like seeking a statewide office. However, Hansen said that, with the good showing, it will be easier for Philpot to raise money if he chooses to make another go of it.

But Dan Levin, associate professor of political science at the University of Utah, said that even if Philpot is a rising star among Utah Republicans, he will still have to navigate the state party convention — which isn't necessarily a slam-dunk.

"To the extent he showed reasonably well, it gives him a better opportunity to be begin that process of organizing," Levin said. "But a lot is still unsettled."

Levin agreed that uncertainty could include rumors of U.S. Rep. Jason Chaffetz running against Sen. Orrin Hatch — which would leave the 3rd Congressional District seat open — as well as not knowing where the new district's boundaries will be drawn.