UNITED STATES—Months before the November 3 American Election, many betting houses already splashed the odds on both candidates (Donald Trump and Joe Biden). Yes, you can place bets on politics and make money, the phenomenon is not new.
You can also enjoy access to a list of casinos that offer no deposit bonus here. All you have to do is sign up and receive the bonus, no deposit needed to claim this bonus.
When people hear betting, they assume it to cover bets on sporting and casino events. This assumption would have been correct if today was 1960. We are in 2020 and there has been an expansion on what you can bet on. Betting on politics is one of such beneficiaries. In 1960, it was impossible to bet on politics, but now it is possible.
The most popular bet is betting on electoral votes winners. Players can make cool money for themselves placing bets on their predicted winners. The political climate offers lots of betting opportunities that players and betting houses can exploit.
Betting on politics is extremely popular especially during election seasons. Recently before the conclusion of the Nov 3 American elections, many betting houses offered different betting opportunities based on the outcome of the election.
As a testament to the increasing popularity of political betting, it dominated the news and was much talked about in the betting world, more than events from the sports world. Political Bets also tend to have much higher stake players and more diverse players such as non-sports loving players.
Sportsbooks gain a lot from offering political bets, especially on popular and keenly contested elections such as the US Presidential Elections, UK Prime Minister Race, and so on. It is an opportunity to attract non-sports bettors who are better attracted to betting on non-sporting events.
Forms of Political Betting
Political Betting takes different forms. The most popular forms include:
- Future Bet/Odds to Win
This type of political bet involves betting money on your expected outcome. Different outcomes shave different odds or money lines attached to it. For example, Joe Biden is 1.66 odds to win the 2020 Presidential Election while Donald Trump is 2.35 odds to win the 2020 Presidential Election.
If you place a $1000 bet on Joe Biden for 1.66 odds, you will win $1660.
- Political Prop Betting
This type involves placing bets on potential outcomes, with all possible outcomes listed as betting options. For example, Will Donald Trump win the 2020 US Presidential Election?
- Head to Head Bets
This type of bt involves betting on one of two options, with one side viewed as the favorite with lesser odd and the other side viewed as the underdog with a higher odd. This type of bet is popular with sportsbooks.
For example, The US Presidential Winner is:
Donald Trump (2.20)
Joe Biden (1.66)
A player bet on either outcome and if their selection is accurate, the amount bet is multiplied by the odds for that selection to determine the winnings.
- Political Props
This type of bet allows bettors to wager on multiple outcomes. It offers more options than other methods. Some examples include:
- Will Trump win Nevada?
- Will Donald Trump be impeached?
Props Bet allows you to place bets on more detailed outcomes and predictions that usually do not make the main betting events.
Political Betting Tips
#1. What political events are available for betting?
You can bet on numerous political events. The only restriction you will encounter is if there is no betting house or sportsbook does not offer that selection. You can bet on either small political events or the bigger ones as long as you can find a betting company that is willing to take your bet.
It is tricky finding online sites that accept local/regional election bets. You stand a far better chance of finding betting opportunities on the more popular elections. The popularity of political bets is growing, but it is still far behind sports betting in terms of popularity and betting options.
#2. How to spot fake political bet sites?
Similar to the problem faced in the sports betting world, there are a growing number of sites that claim to offer political betting services but are scams to steal your money.
You can identify these sites the same way you do a fake sportsbook by doing some background checks such as checking its licenses and reviews from reputable sources.
#3. Responsible Betting
While placing bets on political events which the expectation of earning real money, it is important to gamble responsibly. Only bet what you can conveniently afford to lose.
Betting on politics will continue growing in popularity and options in the coming years.