Political betting is a sure fire example of how to make money on outcomes of elections and political decisions. There is a growing trend in this area since betting is occasionally treated as a bit of a novelty in this area. However several betting companies have started taking this kind of strategy pretty seriously.
In this article, you’ll find an overview of the different types of bets on offer in the political arena, including presidential betting in the US and the betting that goes on in British and worldwide political markets. You’ll also be given advice on what to look for when signing up to a sportsbook for your political betting.
Definitely, one of the most popular betting outcomes is who will become the next President of the United States of America. At any point in the four year cycle of presidency, you’ll be able to place a bet on who the next President will be, regardless of whether the current President has just made his inauguration speech, or whether we are in the middle of the full blown circus in the weeks leading up to the next election. You can also indulge in betting on the Primaries in several states where the outcome is often uncertain and there’s big wins to be made.
In the early part of the four year cycle, many candidate names will be offered by the sportsbooks. However, as you move closer to the election, these names are whittled down, and soon all that’s left are the lead Republican and Democratic Party candidates.
As already mentioned, political betting is not only reserved for the final presidential elections. Wagers can be placed on many elements that make up the political market, ranging from which individuals will be named Republican or Democratic candidates, to the more general outcome of which political party you think will wind up in office. The latter bet can even be made before the parties have announced their candidate of choice. In the period leading up to the presidential election, you can also place bets on each individual State, predicting which party will take control.
Political Betting – Other US Political Bets
Other interesting bets are also available for different political events. The US Mid Term elections are one of these since the Senate or the House occasionally offers some intriguing races. A recent case in point was the Alabama Senate Race where the Democrat managed to win the special election against all odds – a heaven for those who decided to bet on Doug Jones.
Other possible bets are mayoral elections, governor elections and even the President’s approval rating is another popular area to bet on, with sportsbooks assigning prices to the various ranges of potential percentage ratings.
British and Political Betting all over the World
The British political scene is probably the next biggest area of political betting after US politics. Betting on who will become the next Prime Minister; which party will win the most votes; the next Labour Party Leader; the next Conservative Leader; or whether or not there will be an overall majority, or a hung Parliament, at the next election are all extremely popular wager types. Betting on the next London Mayor is also very popular, as well as betting on each and every by-election. Referendums can also create a huge betting market as we have seen recently with the Scottish Independence and Brexit referenda.
Every time there is a political event in any part of the world, you can rest assured that sportsbooks will post odds on them. Regardless of whether you’re wondering what the name of the next Prime Minister of New Zealand will be, which party will have the lion’s share of the votes in the German election or what the date of the next French election will be, you’ll be able to put your money down on potential outcomes.
Choosing the Right Sportsbook for Political Betting
Many sportsbooks offer political betting, however some will have a wider range of betting options available than others. When choosing a sportsbook to sign up to, be sure to look at whether the one you’re interested in caters to your wagering needs. If the site has a wide enough range of betting options, is the pricing competitive? There are many odds comparison sites where you can look at a particular event and see all of the available prices. Some sportsbooks’ prices may be more conservative than others due to their expertise being concentrated in the sporting arena as opposed to the political arena.
Another thing to consider when choosing a sportsbook is the website’s credibility and reputation. You might find that the best price on the next President comes from an unknown sportsbook. Before committing to them, be sure to check out their credentials by looking at various review sites. You should also ask questions in forums or on message boards before depositing any money. If in doubt, use a sportsbook you or your friends have used before, or one that has a solid reputation and is well known.
With so many political betting markets now being offered, there has never been a better time to exercise your expertise in this area. With more competitive markets and sportsbooks getting involved in this area of betting, be sure to do your research. Not only will it encourage you to take your civic responsibilities more seriously, but it’ll make these duties so much more exciting. Upcoming events which are waiting to be heard include the Italian election which is to take place in March as well as the US Midterm Elections in November 2018.