How to Bet on US Elections
The US political scene is a very divisive one, with the two main parties always battling it out to come out on top. This means that the elections are usually very closely fought and can often be unpredictable.
Upsets can happen and big underdogs can win, such as Donald Trump winning the US presidential election in 2016. This is why betting for election results is very popular today. This guide looks into everything you need to know when it comes to election betting.
2022 odds for betting for election
When it comes to US election betting, there are tons of different factors that come into play. The US political scene is made up of two main parties – the Democratic Party and the Republican Party. The roughly even split in support for both of these parties across the country as a whole means that there is never a dull moment in the political world.
Each of these parties and their members are trying to do what’s best for those people that they represent and try to make sure that they stick to their party’s values. This means that there can be a lot of disagreements on a lot of issues.
In recent elections, the impact of social media has been very noticeable. While candidates used to mainly run extensive television and radio campaigns, more and more candidates are using platforms such as podcasting, Youtube and social media to spread their message and try to drum up support. The battlefield is shifting and candidates have to adapt or they will get left behind.
Every move that a candidate in an election makes is being watched, with even the slightest mistake being magnified and spread across the internet. This means that elections can often change on a dime, with a certain candidate seemingly unbeatable until some scandal comes out or they have a major slip-up. This is what makes betting for election results so compelling and interesting to people.
Why betting odds matter
One of the main considerations when it comes to the likes of election betting is the odds that you are getting when it comes time to place a certain bet. While your bet may be a winner, if the odds aren’t very good then the return can often not be worth your while.
Generally, the odds for a given market are going to be a rough guideline as to what the result is going to be. The sportsbooks rarely get things too far wrong when it comes to sporting events and favorites. However, political betting is a different ball game, meaning that it is much harder to accurately set odds. This can present a lot of opportunities.
For example, during the 2016 US presidential election, Hillary Clinton was a strong favorite in the pools and with the odds at sportsbooks to beat Donald Trump. However, Donald Trump then went on to win that election. Therefore, the current betting odds should only be used as a loose indicator
What do the numbers mean?
The odds that you see for the US presidential election are going to be based on the probabilities of each candidate winning the election as per the analysis that has been carried out by the sportsbook. Therefore, the person with the lowest odds is in the eyes of the sportsbook going to be the likeliest winner.
As new information comes out and public sentiment changes, as well as more money is bet on certain candidates, these odds will change. This is why it can be useful to keep an eye on these changes over time.
For example, Donald Trump may have odds of +125 to win the election, but as his support rises, the odds drop to -300. If you made a $10 bet on each of these odds, you get a $12.50 profit at +150 if Trump wins or $3.33 profit at -300.
How to bet on elections?
There are many different elections that take place across the world every year. However, the US presidential election that comes around every four years is always going to be the standout for bettors, new and old alike. To bet on presidential elections has never been more popular, with all sorts of great betting types being open for you to use.
Different Types of Bets
A lot of the major sports betting types that you see with sports betting also transition over to election betting. This makes it very easy to understand the lingo and what tools you have at your disposal. Here are the most popular betting types you can expect when it comes to political betting:
- Odds to Win/Future Bet: This is the most straightforward type of bet. You are simply betting on what candidate you think is going to win the presidential election. There is nothing complex about this type of bet you are simply going with what your head and your gut tells you.
- Political Prop Betting: Prop betting allows you to place more niche types of bets when it comes to elections. They might be silly proper bets such as what color tie a candidate wears at a rally or how many states a given political party will win after the vote has been conducted.
- Head to Head Bet/Moneyline: This type of bet sees you match up two different candidates together in a face off. You will be betting on whichever of these candidates you think will and more votes. This is a great way to focus on just two different people rather than having to worry about the entire field.
- Over/Under: An over/under bet is very popular in sports betting and it also makes its way over to the political betting sector. This type of bet allows you to decide whether you think a given result will be over or under a certain amount. For example, you may want to bet on if President Donald Trump will win over/under a certain amount of states in the 2020 US presidential election versus Joe Biden.
- Point Spread: The point spread is also very popular in sports betting. It sees a certain handicap being applied to a favorite in a certain market. This will even up the betting and make it more enticing or you to place a bet on this favored candidate.
Betting on politics: Tips from BettingBilly!
If you are looking to get involved with betting on politics, there are some things you need to keep in mind before placing your bets. These could help maximize your return in the long run and help you to avoid mistakes.
- Pay Attention to scandals: One of the main ways in which an election campaign gets derailed is when a scandal emerges for a given candidate. This can come in many different shapes or forms. Certain scandals may be worse than others. You should keep an eye on all of the latest scandals emerging, figuring out whether or not these will likely have an impact on the election.
- Research Poll Data: Poll data is a useful way to see what people are thinking and who they are thinking of voting for. Why these new polls are not the be all and end all, they are a useful guiding tool to gauge what public sentiment may be at a certain period in time.
- Has the candidate made any mistakes?: Mistakes can happen often when a candidate is constantly under the spotlight at rallies, debates and doing the media rounds. In this social media age, these mistakes get amplified even further. Keep an eye out for any potential blunders and assess how they might impact the chances of a given candidate.
- Don’t Let Your Political Opinions or Beliefs Get in the Way: It is never a good idea to let emotion or bias come into consideration when you are by making betting decisions. They are to be avoided, as they can tilt your decisions and lose you money. Try to put an objective hat on when assessing the different election betting markets in order to make smart and calculated decisions.
Is political betting legal in the USA?
Political betting is very popular all across the world. It is relatively new in the USA, with its presence set to grow and grow in the coming years. As sports betting is only legal in certain states, right off the bat there will be those with access to a licensed sportsbook that offers political betting.
Even some states that do have legal sports betting do not allow betting on politics. To see what the deal is in your state, you can check out the BettingBilly state checker tool. As time goes on, political betting will be the norm rather than the exception across the entire nation.
Why bet on politics online?
Online sportsbooks are exploding in popularity across the world. There are many different perks associated with them, namely being able to place bets no matter where you may be. Here are some of the other major advantages that you need to consider:
- Variety of markets: You have access to a lot more betting markets when you go online as opposed to a retail sportsbook. You can quickly see all of the available odds at your fingertips, as well as being able to see what the competition is offering.
- Compare odds: The easiest way to boost your returns for political betting is by making sure you are getting the best odds. This means shopping around all of the different online sportsbooks for each bet that you are going to make.
- Research: There is a massive amount of resources available online that you can use to direct your election betting. Everything from poll data to public sentiment on social media and important campaign documents can easily and freely be accessed. You also have access to breaking news and the latest changes in the political scene.
- Mobile betting: With mobile betting, you can place a bet no matter where in your state you are. This offers a lot of flexibility, with the access to a sportsbook always being just a fingertip away.
- Promotions: Promotions and bonus offers are a great way to give your betting balance a bit of a boost. These promotions come in many different forms. New players will be welcomed through a welcome bonus offer, often in the form of a free bet. There will also be all sorts of promotions for current account holders such as money back offers and enhanced odds for certain markets.
- Ridiculous Props: Online sportsbooks have the ability to offer a lot more wacky and funny prop betting markets. These can range for the silliest things, always giving you a good chuckle and adding a bit of fun into what is a very serious topic.
All types of betting markets offer you the chance to win money provided that they are fair. The presidential election is no different and you can choose between candidates at pretty fair odds. If you are on the right side of the result, you will in fact make money.
It is always best to use a betting site that is licensed in your state and that has a good reputation. You should check out what security protocols are in place, check out expert reviews and have a look around the internet to see what the real life bettors are saying about the platform.
The types of political betting markets on offer will depend on the given operator. Some operators will have a wide range of international election betting markets. Some will only focus on the major global events, such as Brexit for example. Whatever the case may be, you should find what you are looking for.
This will all depend on what state you are in. The rules vary, with certain states requiring you to be at least 21 years old, with this dropping to 18 years old in other states. You can use the state checker tool on BettingBilly to see what the rules are in your state.
A free bet is the most standard type of betting bonus you can expect and is perhaps the best option. This allows you to bet with the house’s money, minimizing your risk for a given bet. Most of these free bet offers will see you keeping the profits from the bet, with the stake going back to the operator.