Can I Bet On The Presidential Election
Even though the Presidential election sees a great deal of betting action every four years, political prop bets provide bettors a way to cash the odds of what a politician will or won’t do, and sportsbooks frequently post a variety of entertaining novelty prop bets during the lull in between election seasons. These days, election odds and the way people bet on key races is even used by political scientists and pundits in their attempts to predict the outcome of key races and elections. This guide covers everything you need to know about betting on politics and elections.
The United States Presidential Election is now just a day away. The general election is scheduled for this Tuesday, November 3rd, 2020. The media attention and hype surrounding this monumental election has dominated the news cycle for the past several months. Donald Trump will be running for reelection as the Republican candidate, while Joe Biden is the Democrat candidate looking to prevent Trump’s second term.
On this page I will outline our top rated betting site for Americans looking to bet on the election, look at the odds and touch on the other bets that can be made, and finish up with a simple 3 step guide you can follow to bet on the 2020 US Presidential Election online.
Best Betting Site for US Election
- Built for American bettors
- Wide variety of competitive betting lines
- Easy to navigate betting platform
Bovada is our #1 rated betting site for Americans interested in betting on the 2020 USA Election. They have a wide variety of election related betting lines including betting on specific states and specific candidates.
US Presidential Election Odds
Here are the current odds for the 2020 United States Presidential Election from Bovada.lv (taken November 2nd):
Joe Biden is the favorite one day out from election day with odds of -185. Donald Trump is the underdog with odds of +155.
These odds will likely change in the week leading up to the election. To see the up to date odds head to Bovada.lv, open the ‘All Sports’ drop down menu on the Sports page and click ‘Politics’. All of the various election related odds will be on this page.
In addition to Trump vs Biden for President, you can also wager on which party will win the popular vote, various prop bets relating to the candidates, and which candidate will win specific states.
How To Bet On 2020 US Election From USA
Follow these three steps to place bets on the 2020 United States Election if you live in the USA.
Step 1. Join Bovada.lv
Click the above link and fill out the short form to open your Bovada account.
Bovada is our top rated betting site for Americans. They are a popular and trusted betting site that has served the USA market for many years, and they have a wide variety of betting markets available for the 2020 US Election.
Step 2. Deposit
Log into your Bovada account and click ‘Deposit’ under your account drop down menu. Choose your preferred deposit method (Visa, MasterCard, bitcoin) and follow the instructions provided to complete the deposit.
Your winnings can be withdrawn via bitcoin, bank tranfer or check through the mail.
Step 3. Bet On The Election
It’s time to place your bets!
On the Bovada website select ‘Sports’ from the top menu bar and then select ‘All Sports’ and ‘Politics’ from the secondary menu. This will bring up the page with all of the betting options for the election.
Select the bet(s) you want to make, enter your wager amount on the Bet Slip, and click ‘Place Bets’ to confirm.
If you’re new to betting I would suggest reading through some of the beginner articles on our betting guide page.
Ready to bet? Click here to visit Bovada.lv.
Tagged With : US Election • US Presidential Election betting
Yesterday morning, I was having a conversation with a dear friend of mine in another state. She asked me if there was a lot of betting on coronavirus situations. I replied that I thought the upcoming elections were probably generating more action.
She replied, “Isn’t it illegal to gamble on political elections in the United States?”
I’m not sure I knew, so I thought I’d do some research.
Here’s what I learned about whether you can gamble on elections in the United States:
There are quite a few safe online betting sites offering US Presidential Odds, but we’ve found MyBookie to be the best. Follow this link to visit MyBookie or check out our other top-rated online sportsbooks for the 2020 presidential election.
- MyBookie – 100% welcome bonus up to $1,000
- BetNow – 100% welcome bonus up to $1,000
- Bovada – 100% welcome bonus up to $250
- BetUS – 100% welcome bonus up to $2,500
Want a little more info? Jump ahead and learn more about the latest election betting odds and lines.
Betting on United States Elections Isn’t a New Thing
Betting on presidential elections has a long and notorious history in the United States.
And just like the sports betting scene, the action on Presidential elections can be thought of as a marketplace.
From shortly after the Civil War until shortly after World War II, markets for betting on the presidential election were big and efficient. Not only that, but the favorites in betting markets also tended to win elections.
I’d contend that it probably hasn’t, really. It’s now more of an underground betting activity conducted with offshore sportsbooks. Previously, betting on presidential elections was an organized activity – even when it was illegal.
But we do have access to more betting opportunities than ever before. Also, modern scientific polling has replaced some of the interest in betting markets and their predictions for who’s going to be the next President of the United States.
Historically, so-called betting commissioners managed these betting markets and used standard contracts for that purpose. Sometimes you’d see more money betting on elections than were being put into action on stocks and bonds.
In the late 19th and early 20th century, you could get daily odds from various newspapers for at least a month before the election.
The most significant election, in terms of dollars wagered, was the election of 1916. Bettors wagered over $165 million on that contest. (Those dollars have been adjusted for inflation.)
Betting Markets Have Historically Been Good at Predicting Winners
The betting markets on elections in New York City almost always predicted an election’s winner. In fact, the market was also a good predictor of whether a vote was going to be close.
The favorite in these betting markets won almost three out of four times over 50 years. That’s even more impressive when you consider that the practice of conducting scientific polls didn’t begin until the 1930s.
Much of the historical information related to election betting markets between the end of the Civil War and the first half of the 20th century can be found in more detail in a paper on historical prediction markets written by Paul W. Rhode and Koleman S. Strumpf.
The conclusion so far, though, is that regardless of the legalities involved, people have been able to bet on presidential elections in the United States for a long time.
And, before polling became standard, betting markets were the de facto means of predicting election outcomes and were remarkably accurate.
Betting Political Elections Is Illegal Throughout the United States
Betting on sports used to be illegal almost everywhere, but over the last couple of years, legislation has loosened up regarding betting on sports.
People also bet on entertainment events like who’s going to win the Oscars, although that kind of betting isn’t as prevalent and isn’t legal in as many states.
This doesn’t mean it’s illegal everywhere. The United Kingdom has always been more open-minded about gambling than the United States, and bets on political events are still common there.
And some bookmakers in other countries are happy to take action from U.S. citizens regardless of the legality in the bettor’s jurisdiction.
Why Is It Illegal to Bet on Elections in the United States?
One of the concerns related to betting on sports is that it might corrupt the integrity of the sport. The Black Sox Scandal in 1919 is a classic example, although it seems to me that outlawing sports betting has done little to prevent such activity.
Everyone I know bets on sports, either with a local bookmaker, an online sportsbook, or both.
There’s a big difference, though.
With sports, the big concern is that bettors will bribe athletes to lose on purpose. In fact, countless movies have been made about boxers who were bribed to throw a match.
Think about it.
If your candidate is a massive longshot, according to the bookmakers, you might be less likely to show up and vote – ensuring that your candidate will lose.
I think this is a lousy argument for making election betting illegal, though.
Polls might easily have the same effect, but, as far as I know, no one has suggested we ban polling.
And, even though you can’t legally bet on an election in the United States, the bookmakers in other countries are still taking action. It’s easy to find out what the odds are for your favorite candidate.
I’ve been watching the gambling industry in the United States for a couple of decades now, and if I’ve learned anything, it’s this:
Changes in gambling laws happen SLOWLY.
How to Bet on the Presidential Election Anyway
First, I’m no lawyer. I don’t even play one on television. I have no idea what the legal risks are when it comes to betting on presidential elections.
But if you’re determined to bet on the presidential election anyway, I can offer some suggestions.
- Your first option is to find a likeminded individual who’s willing to bet with you. This should be someone you know and trust who won’t stiff you. Betting with such a person eliminates the vig, which is the amount that the sportsbook charges you to place a bet.
- Your second option is to find an online sportsbook operating from another country that’s willing to take action from a United States citizen on the election. Many such businesses exist.
As far as choosing the best political betting site is concerned, pay close attention to the bookmaker’s reputation. You’re talking about transferring money to and from a company that’s operating in an at-best grey legal area.
Such sportsbooks claim that the action they’re taking is governed by the jurisdiction where they operate. Presumably, it’s legal there to bet on such activities. United States prosecutors have a different attitude, which is why people like Calvin Ayre are hard to find.
The point is that you need to be comfortable that the book is going to pay you off if and when you win your bets. Some offshore sportsbooks are notorious for stiffing their customers.
Once you find such a sportsbook, you’ll need to find a way to get money to and from the company.
Las Vegas Odds Presidential Election 2020
Once you’ve established an account at such a company and funded it, actually placing the bet is just a matter of finding the wager you want to make, inputting the amount you wish to wager, and pointing and clicking.
Can I Still Bet On The Presidential Election
Odds on the 2020 US Presidential Election
Odds at MyBookie
- Joe Biden (-155)
- Donald Trump (+115)
- Kamala Harris (+1500)
- Mike Pence (+10000)
- Anyone Else (+35000)
Visit MyBookie
Odds at Bovada
- Joe Biden (-165)
- Donald Trump (+125)
- Kamala Harris (+7500)
- Mike Pence (+7500)
Visit Bovada
Odds at BetOnline
- Joe Biden (-180)
- Donald Trump (+160)
- Kamala Harris (+10000)
- Mike Pence (+10000)
- Jo Jorgensen (+50000)
Visit BetOnline
It’s no secret that offshore sportsbooks take action on presidential elections. I see the odds being published and updated regularly on various news sites.
So let’s look at recent odds for the presidential election at BetOnline.ag has Joe Biden at -180 and Donald Trump at +160. You could also bet on Hillary Clinton at +6000.
The -180 odds on Joe Biden mean that if you bet $180 on Biden winning, you win $100 if he wins the election.
The +160 odds on Donald Trump mean that if you bet $100 on Trump winning, you win $160 if he wins the election.
The minus sign indicates that he’s the favorite, so that’s the amount you must risk to win $100.
Hillary Clinton is clearly a longshot, so if you wager $100 on her winning, and she somehow pulls it off, you’d win $600.
Even with 60 to 1 odds, though, I think betting on Hillary is a sucker bet.
Conclusion
Sure, people have been doing so for decades.
But it isn’t legal to take action on such wagers.
My advice is to obey the law, but if you want to put a little money down on the next presidential election, at least only risk money you can afford to lose – especially if you’re betting with an offshore sportsbook rather than a buddy of yours.