While most people generally connect betting with the world of sports, the industry has gone through changes in recent years to where that notion is now changing. With the rise of social media involvement in the world of news and entertainment, certain things are being wagered that years ago never would have had a place at the betting window, such as betting on politics.
With both the political climate and gaming industry as hot as they have ever been, the two are now reflecting each other as a way for citizens to get involved in presidential races while using political betting sites to make a little money based off of their predictions.
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Like betting on sports, political betting has several techniques and factors that vary depending on the situation and the value that is being shopped.
Best Political Betting Sites
As one gradually becomes more familiar with the processes and underlying factors of sports wagering they will realize that being able to trust the betting website they are on is one of the most important stages.
This is where another connection to the sports world comes into play, an online sportsbook (particularly the sites we recommend) often always have political odds posted, illustrating that the bookmaking process for both sports and politics is handled by the top industry professionals.
Betting on elections outcomes has grown so much in popularity that there are even instances where political betting steals some of the spotlight from the sports world, as the appeal is generally much more widespread when compared to sports.
The two very much benefit off of each other, as online sportsbooks give political betting a forum to exist in, where as the novelty of betting on elections and politicians draws in bettors who are not sports fans and would otherwise not be on that website.
Different Types of Political Betting
Odds to Win/ Future Bet: As if you were betting for this year’s Super Bowl or Heisman Trophy winner, this type of political bet involves wagering money on a listed moneyline price off the simple premise of who will win.
- Example: Andrew Yang is +1450 to win the 2020 Presidential Election
- Example: Elizabeth Warren has +200 odds to become the Deomcratic Nominee in the 2020 Presidential Election
Political Prop Betting: Like a sports prop, these are situation-based bets that are booked based off of potential results of an outcome. A price is given for both possible results of the prop listed, with the favorite being the more likely of the two results.
Example: Will Jair Bolsonaro complete his first presidential term?
- Yes (-300)
- No (+200)
Head to Head Bet: Comparable to the most well-known type of sports wager, this political bet features two opposing sides with odds attached to each. With this, one side is booked at favorite money with the other coming back with dog money. The bettor then chooses the side they believe will win, and if successful their resulting payout will be based off of the odds that were listed at political betting sites.
Example: US Presidential Election 2020 Winning Party:
- Democratic Party (-115)
- Republican Party (-115)
Political prop betting has seen a huge spike in interest in recent years, predominantly do to the fact that it gives people a multi-layered scenario. Much like a football game, being able to bet on a hypothetical outcome of a real life situation leads to more opportunities to both walk away with money and find leisure in your political betting. Because of this, betting props is often considered a strategy all its own.
Here are a few examples of political prop bets:
Will Donald Trump be impeached and removed?
- Before 2020 Elections- Yes (+175)
- Before 2020 Elections- No (-250)
Will Donald Trump be elected to a 2nd term as POTUS?
- Yes (-230)
- No (+160)
Who will be the Republican nominee for the 2020 Presidential Election?
- Donald Trump (-800)
- Not Donal Trump (+500)
What Political Events Can You Bet On?
Once the “why” and “how” are clarified when considering political betting sites, the “what” becomes the focus as one must shop for not only a price that interests them, but a play.
Those who feel they have a tip on the local/regional scene may be more likely to bet for smaller elections, while the 2020 Presidential Election is going to be played more casually and frequently, especially as the race gradually tightens. Here are a few examples:
US Presidential Election
The most popular election to bet, odds are frequently posted and changed as stock for candidates rises and falls throughout the race. Handle naturally increases closer to election season when candidates become more solidified and political betting season is in full swing.
The 2020 Presidential Election currently has action on various political betting sites and will add more situational props and altered odds as the election gets closer. There have already been several odds changes due to debate performances, public reception, and late entries into the race.
US Congressional Election
Not as popular on the political betting spectrum, there is still occasional handle that pours in for these. Those who are politically informed often have the know-how to handicap these less popular but still highly important, elections. Given how these are dependent on the state itself, Congressional Election bets are far more regional than national, as they lack the appeal of the betting on the Presidential Election.
The 2020 Congressional Election will see increases in action as the public grows more in tune with the House of Representatives nominees, but for now, value will be harder to find and odds will not be as sharp in lieu of the more popular Presidential Election.
Other Examples of Political Betting:
- British Parliament Election
- Referendums (Example: Brexit)
- Australian Parliament Election
- London Mayoral Election
Is Betting on Politics Legal?
Yes, it is allowed, regulated, and now live in many places. For United States residents, the safe political betting sites that we endorse are trustworthy, tested, and legal.
Depending on your location, you may not have the ability to place a bet on websites that are owned and operated by land-based sportsbooks, as the legalization of sports betting is state-based.
However, this has to do with the operation of the sportsbooks themselves, not any potential customers. So even if gambling is not legalized in your jurisdiction, that does not mean you can not make a bet online from the comfort of your home, regardless of location. This convenience is a big reason why mobile betting apps have exploded in popularity in just the past few years.
If the proper precautions were taken (making sure you signed up for a trustworthy site, have confirmed money in your account, etc…), you will have the green light (barring any technicalities) to bet without legal concerns, as the top political betting sites we utilize are not in the United States, making state-by-state control irrelevant.
Political Betting vs Other Types of Betting
There are parallels with betting politics and sports just as there are connections all throughout the gaming world.
As one becomes more informed and experienced however, noticing key differences becomes much easier. In political betting, less focus is placed on past results and more emphasis based on a candidate’s realistic chances.
This is due to the fact that it is hard to create a winning formula for something that is heavily based off of subjective opinion. The election of a president for example is a selective process, while a football or basketball game is not up to a vote by the population, but determined by athletes competing against each other with the intention of winning.
This is why when wagering sports, the concept of betting strategy becomes a thing of great importance and pride, as bettors often believe their strategic methods lead to a winning formula.
This takes a back seat in political betting. Yet, the baseline knowledge and the application of it in terms of making a bet are still very similar in sports and political betting.
This is why if a patron can grasp the simple concepts of odds and what purpose they serve, they will be able to crossover between sports, politics, and other fields pretty smoothly assuming that the knowledge and desire to bet are there.
Frequently Asked Questions
Can You Really Make Money Betting on Politics?
Yes, if you time it right. There are enough bets posted to where a patron can clean house if they have handicapped the odds correctly. However, unlike sports, politics operates on a far more time-sensitive basis as there are only certain points in the calendar year where it holds relevance.
So in order to make money you must pick your spots wisely and understand the concept of value. If these are understood by the bettor, then money can consistently be made as at that point it is just applying basic gambling principles to a different topic.
How Do I Know if a Political Betting Site is Shady?
In the same way you can tell a sports gambling site is shady. At the end of the day, the bookies posting action on politics are the same people booking sporting events, so their business models and practices will very much be identical, especially when you consider that the majority of the best political prices are found on online sports betting sites.
How Can I Place a Bet Right Now on Donald Trump to Be Impeached?
A play like this serves as a type of prop bet that is found on many of the online political betting sites we have tested. In order to place money on it, make sure you have an account on the website of your choosing and have deposited your money.
As long as these boxes are checked, you will then have the freedom to bet on the aforementioned prop and several other president-related specials currently available. This prop is specific to current headlines in the news cycle, so availability of props bets like this is very much dependent on the individual who is being booked in said bet and what they’re currently dealing with. As shown earlier, this exact prop is currently on the board at MyBookie.ag.
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