How To Bet On Elections
Right now, all legal sportsbooks in the country are not allowed to take bets on the 2020 Presidential elections or any other election around the country. Most states specifically have laws against sportsbooks providing odds on any elections. But that could change in the future. Betting on elections in the U.S. Is generally illegal. But gamblers in Europe bet heavily on U.S. Elections, mainly via a London-based site called Betfair, and two small U.S. Election betting.
Did you know that many online sportsbooks also let you bet on political elections? That’s right, you can go to the sportsbook section of a wagering site for 2016 presidential election odds. If you have ever bet on sports, wagering on politics works much the same way. Each line is for a separate category, i.e. republican candidates, democratic candidates, who will be elected president, etc. Clicking on any particular candidate will bring up a wagering calculator, which lets you type in the amount of money you want put down, and it calculates the payout amount. This page will explain the various types of odds, how to read them, and what they mean. It will also tell you all about underdogs and favorites. Finally, this page will give you some recommendations for some top-quality online sportsbooks that let you bet on politics.
Different Types Of Odds
There are three types of odds that most sportsbooks use. The most common type is the moneyline. This is also known as American odds because it is the kind most commonly used by American players. It is an example of regular odds, as opposed to exotic odds. You will see American odds displayed as a name with a number next to it with either a plus or a minus. The minus corresponds to the favorite, and the plus represents the underdog. The favorite is most likely to win. The next type is fractional odds, which are more commonly used in Europe. A more rare type is decimal odds. They show you what your total payout will be. It takes a little bit of mathematical calculation to convert fractions into decimals. Both fractional and decimal odds fit into the category of exotic odds.
How To Bet On The Elections
How Do I Read The Odds?
Americans who bet on politics most likely will be using the moneyline, or American odds. If you look at the numbers, the minus symbol means the candidate is the favorite, and will most likely win. The plus symbol means the candidate is the underdog. When you are looking at the favorite, say a candidate’s odds are -150. What this means is you will win $100 for every $150 you bet. For the underdog, if the odds are +150, it means for every $100 you bet, you will win $150. Fractional odds are also pretty easy to read. The first number is the amount you stand to win, and the second number is the stake. So if the odds are 6/1, it means you will win $600 if you bet $100, for a grand total of $700. Simple enough, right?
What Do The Odds Mean?
Betting on the favorite means you are more likely to win, but your payout will be smaller. Betting on the underdog produces a much higher payout, but your chances of winning are smaller. One thing to keep in mind is that the negative and the positive numbers correspond to the opposite of what you would think. The favorite has a negative number, and the underdog has a positive number. Also, the higher the number for the favorite, the more likely they are to win, and the lower the payout will be. For the underdog, the higher the number, the less likely they are to win and the higher the payout will be. If you aren’t completely sure about the exact ratios, you can always use the odds calculator provided by the site.
Underdog Versus Favorite
When betting on politics (or anything, for that matter), you have to understand the concept of underdogs and favorites. The oddsmaker spends days, weeks, months even, looking at the statistics and calculating the odds. If you are absolutely sure that the favorite will win, it makes sense to bet on them even if the payout is meager. However, the underdog might just surprise everyone and come out ahead. If this happens, you stand to win much more money. Like anything having to do with wagering, you just have to weigh your options and make a smart decision.
Bonus |
50% To $250 Sportsbook Match Bonus |
25% Up To $1,000 Sportsbook Bonus Each Deposit |
25% Lifetime Bonus On All Deposits |
Bovada Sportsbook
BOVADA SPORTSBOOK |
Of all the online sportsbooks that let you bet on political races, Bovada is one of the best. Their sportsbook is very easy to use, with odds that are spot-on. Joining Bovada takes just a few minutes of your time, but if you want to take a tour of the site and see what it is like, you can. You can visit Bovada’s sportsbook to see the odds, or you can try out various wager combinations using their betting calculator. You just click on a particular candidate and type in some numbers. It’s that simple.
Once you’ve decided to sign up with Bovada, you can start betting. To get you started, Bovada offers a welcome bonus of 50 percent on all first deposits not exceeding $250. To get your bonus, send in the correct promotional code to the site. Also, you have to spend five times the amount of the bonus before you can use it. This is what’s known as a rollover requirement. All sportsbooks that offer bonuses have rollovers, but Bovada’s is less than most others. It may seem unnecessary, but if rollovers didn’t exist, too many people would use the bonus money and never wager at the site ever again. It’s just a way for Bovada to protect itself from swindlers. Join Bovada NOW!
5Dimes Sportsbook
5Dimes SPORTSBOOK |
5Dimes is an online betting site that lets you wager on all kinds of things, including politics. The upcoming presidential race is sure to be a heated one, with Democratic and Republican candidates working hard to win your vote. The great thing about betting on the presidential election is that the odds could change any second. There are many factors that go into predicting the winner, and 5Dimes’ odds-makers have spent months researching the candidates. Their picks are sure to bet accurate and on-target.
Betting on politics at 5Dimes is a lot fun. The site has gone out of their way to include some great special features that will make your wagering experience more enjoyable. For example, they have one of the best bonuses in the industry. It’s called reduced juice, and it saves you fifty percent on the interest of every bet you make. Reduced juice works on every wager you make, and you don’t have to worry about any annoying rollover requirements. All you have to do is send the reduced juice promo code to 5Dimes and you are ready to go. So don’t wait until it’s too late. Join 5Dimes now and get in the game! Join 5Dimes NOW!
© Chip Somodevilla/Getty Images U.S. President Donald Trump steps through the Rose Garden Colonnade before 'pardoning' the national Thanksgiving Turkey at the White House November 24, 2020 in Washington, DC. The president has refused to concede defeat.Betting markets are still pricing Donald Trump as having a chance of holding onto the presidency, despite Joe Biden having already passed the 270 Electoral College votes needed to win the 2020 election.
UK bookmaker Betfair gave the incumbent odds of 11-1 to be the next president, with Biden on 1-18.
Betfair said in a statement on their website shortly after the election that it had not closed the market yet as it was waiting for 'clarity around ongoing vote counts, recounts and any potential legal challenges to the results.'
'Ordinarily in a US election, a result declaration from various news networks would be followed by a concession speech by the losing candidate,' the bookmaker said. 'This would trigger the settlement of the remaining Betfair markets. It's what happened in 2008, 2012 and 2016. 2020 is no ordinary election.
'We will only settle the markets when there is certainty around which candidate has the most projected Electoral College votes.'
Leading polling expert Nate Silver, of the FiveThirtyEight website, shared a separate political map of the U.S. suggesting betting markets were still giving Trump a greater than 10 percent chance, including in states where the results had already been certified.
'As I've said before,' he tweeted, 'it's a bit alarming there are so many delusional people out there that the market equilibrium is this detached from reality.'
Odds Of Trump Winning 2020
Political betting markets still give Trump a >10% chance, both nationally and in several states where *results have been certified*. As I've said before, it's a bit alarming there are so many delusional people out there that the market equilibrium is this detached from reality. pic.twitter.com/SiKXccMvE8
— Nate Silver (@NateSilver538) November 26, 2020Political pundits suggested this was due in part to some betting on a dramatic intervention that could upend the result.
Last week it was reported that President Trump was considering appealing to Republican state legislators to alter rules that govern the appointment of members to the Electoral College in order to retain the presidency.
According to Reuters, the Trump campaign's legal team has decided to take a 'more targeted approach towards getting the legislators engaged' with a focus on Michigan. Biden was projected the winner in Michigan, garnering 16 electoral votes.
Electors are normally chosen by governors and the secretaries of state. Often, electors vote for the presidential candidate that won the popular vote in their state. However, Trump's legal team reportedly wants to shift the responsibility of appointing electors to GOP lawmakers.
Meanwhile, Trump's odds have been cut in half with some bookmakers to win in the 2024 presidential election.
Oddschecker said bettors were backing Trump to 'bounce back from his 2020 election defeat to Joe Biden and reclaim the Presidency in 2024.'
A spokesperson said: 'Over the last week, 39.7 percent of all bets on the 2024 Election winner have backed Trump, despite the 74-year-old being priced as third favorite.
'Some bookies have cut odds on a Trump 2024 victory in half, from 12-1 into as short 6-1 with William Hill. The best price of 7-1 is available with one firm.
'That means the MAGA man only trails current favorite Kamala Harris (4-1) and soon to be inaugurated Joe Biden (9-2).'
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