US Election Betting Odds
If you are looking to get involved in some political betting, there is nothing bigger than the US presidential election. This comes around every four years and it is always filled with drama and controversy. It rarely disappoints and there are some great US election odds that you can get on board with to potentially make it a profitable experience for you.
Other types of election and political betting forms are on offer, with many of the leading sports betting sites offering election betting odds. This guide looks at all aspects relating to political betting and getting the best election odds.
2021 election betting odds
There are a lot of notable elections that take place across the world every year. However, the election in the USA always takes center stage, with the likes of the US presidential election attracting eyes from all corners of the globe. As a result of this interest, it is only natural that there is going to be interesting election betting odds.
There are many different variables that go into a political campaign in this day and age. A lot of tactics and nuance is needed for a candidate to come out on top. As was seen in 2016 when Donald Trump managed to win the election to be the next president, shocks can happen.
While the polling data was showing that Hillary Clinton was set to be a clear winner, this ultimately did not prove to be the case. Both of these candidates were dealing with a number of different scandals and ultimately, Donald Trump was elected as president.
These days, the likes of social media have become massively important as part of the campaigns. Even the smallest incident or remark can instantly go viral to hundreds of millions of people across social media channels.
Even a tiny mistake can cost a candidate heavily when it comes time for people to go to the polls. Therefore, a lot of damage control and strategy is needed to deal with the fallouts of these issues. The battle for the US presidential position is extremely exciting, with this process only enhanced when betting on its outcome.
Why betting odds matter
Election betting odds are a great way to quickly gain an insight as to what is happening with a given election. The polls tend to be pretty accurate when they are judging the changes of the different candidates in a given race.
The odds for these people is going to reflect the cumulative information and sentiment that is out there today and potentially influencing how people will vote. While they are not going to be exactly right, the odds are always useful to keep an eye on.
That being said, there have been upsets in the past that sportsbooks did not expect. Donald Trump was the underdog when he won the election in 2016. People who had bet on him winning would have made a nice return on their stakes. Therefore, these odds do need to be taken with a pinch of salt at the same time. Use the as a tool, but no more.
What do the numbers mean?
The odds for each condition in election betting have been compiled by the sportsbook based on the publicly available info at that given time. The person who is most likely in their eyes to be the next president will be given the lowest odds.
Over time, as more people bet on a candidate or as a scanned emerges or polling data changes, the odds for these candidates will also change. Keeping an eye on the election odds is a useful way of knowing what way the wind is blowing as a whole in the given election. For example, Joe Biden may initially have odds of +125 to win the Presidential election, but as he gains more support, these odds then drop to -300. If you had placed a $10 bet on each of these outcomes, you will get a $12.50 profit at +150 if Biden wins or $3.33 profit at -300.
How to bet on elections?
There are many different ways in which you can bet on an election. Sportsbooks have been branching out to different markets that they can offer betting on, such as politics and entertainment. People are extremely passionate about politics and many of them want to have skin in the game when it comes down to the final results.
Different Types of Bets
When you are looking at political betting there are many different betting types that will be open for you to use. These have largely been adopted from sports betting, so you should be pretty familiar with each of these betting options. Here are the most common types of bets for political betting:
- Odds to Win/Future Bet: This is the simplest form of betting. You are putting a wager on what person you think is ultimately going to come out on top in the election. For example, if you think Donald Trump is going to win the 2020 election, you will bet on him winning.
- Political Prop Betting: This is a type of betting that gets a bit more specific with a given candidate or party. For example, you may be betting on what states a certain candidate is going to win or what party will be victorious in certain swing states.
- Head to Head Bet/Moneyline: This type of bet sees you matching two candidates up against one another. You are often betting on which candidate will get a higher share of the vote for example or who will earn more of the popular vote. This eliminates the other candidates from the equation for betting purposes.
- Over/Under: An over/under bet allows you to take a flexible approach to your betting. You may bet that Joe Biden win over or under a certain amount of states in the 2020 election for example. The sportsbook will set the over/under specific point and the bettor has two options to choose from.
- Point Spread: The point spread is another integral part of betting. For political betting, it can be used to even out a potentially uneven race. For example, if one candidate is heavily favored, a handicap may be applied that means that it becomes more viable for you to be on one of the two opponents. A favorite candidate may be given a -2% portion of the vote at more attractive odds.
Betting on politics: Tips from BettingBilly!
If you are looking at betting on politics, there are many different angles that you can cover when trying to make the best decisions possible. By developing your own approach, you can find the best approach that fits your specific strengths. Here are some helpful hints you can keep in mind when it comes to election betting:
- Pay Attention to scandals: Scandals often come out at the height of an election campaign. These can be insignificant scandals or smaller ones. There can be death by a thousand cuts or these scandals may bounce off the candidate. Whatever the case may be, scandals can still have a major impact on the outcome of an election. Therefore, always keep an eye on the latest scandals and how they might impact the outcome of the election.
- Research Poll Data: An easy way to get a consensus on what sort of way the voters are leaning in certain regions is by looking at polling data. While this is not going to be completely accurate, it can give you a good overview and be a way to follow how trends are changing over time as some candidates fall out of favor and others gain support. While the 2016 election showed that election polling data isn’t always accurate, it is certainly something to consider in 2020.
- Has the candidate made any mistakes?: Even the smallest mistake that a candidate makes can be blown up to great proportions in this social media age. It can be hard to tell what mistakes will be costly and what will blow over in a few days. Keeping a close eye on trending news about a given 2020 candidate like Donald Trump and Joe Biden on social media is a great way to always be on the ball and be aware of the latest gaffes or mistakes that have been made.
- Don’t Let Your Political Opinions or Beliefs Get in the Way: One of the biggest mistakes that a lot of people make when it comes to betting or gambling is letting their emotions get in the way. You can make impulsive decisions that are not based in objectiveness and in a clear-headed state. Therefore, try to keep your political beliefs out of the equation and look at the situation as a neutral when it comes to the bets that you are placing.
Is political betting legal in the USA?
Betting on politics is only becoming more popular. Across the world, many sportsbooks offer these markets on a local level. In the USA, this type of betting is still in its infancy. Sports betting has only been federally legal since May 2018, with many states not yet legalizing the activity there are also some states that do not allow you to bet on politics. Therefore, you should check out the state checker tool at BettingBilly to see if your own state allows you to currently take part in politics betting.
It is always a good idea to use a licensed platform to place these bets rather than dealing with an offshore or out of state alternative. As time goes on, political betting is only going to become more and more popular across the country, being big business for years to come as people want to have some extra skin in the game.
Why bet on politics online?
Placing bets online is one of the easiest things you can do. You don’t have to physically travel to a retail sportsbook, you can place your wagers from the comfort of your own home. More and more states are embracing online betting as time goes on. Here are the other major advantages associated with online betting:
- Variety of markets: You have a much better selection of election betting markets online in 2020 than you would in a retail sportsbook. You can easily see all of the different options, as well as checking out all of the competing sportsbooks in a simple and easy manner.
- Compare odds: As you can easily see what all of the different sportsbook operators are offering in terms of betting markets and odds, you can make sure that you are always getting the best odds for your bets. This is a simple but very effective way for you to maximize your return from your bets.
- Research: There is a massive amount of different resources available for you to access on the internet in 2020. You can check out everything from polling data, research, background about candidates, latest breaking news and feedback from the public on the likes of social media. This is all available for free at your fingertips.
- Mobile betting: Being able to place bets on your mobile device no matter where in the state you may be is a great way to always have access when you want to check out election odds and place a bet. Most sportsbooks will have a strong mobile sports betting offering in place, whether it is through an app or web browser.
- Promotions: Promotions are a great way to attract new bettors and to keep existing bettors on board. These come in many different forms, with free bet and other types of bonus offers being popular. They can help minimize your downside risk when betting.
- Ridiculous Props: There is much more scope through online sportsbooks to have wacky and wonderfully ridiculous betting markets. The same goes for politics betting, with all sorts of funny markets available online.
In order to be able to place bets online in your state, you need to be within state lines. There is a geolocation feature that is integrated into the mobile offering that will check to see what state you are in. This is only activated when you are logged into the app and it only checks the state you are in, not the exact location.
A lot of sportsbooks will only focus on election betting odds, with this being the main area of focus for their customer base. Others will offer major non-US election odds, such as for the next UK Prime Minister or the outcome of Brexit for example. If this is something that you require, you will have to shop around a bit more.
There is no one answer to this question as each type of market will have its own pros and cons. It is a good idea to test out all of the popular types of betting for politics to see which one fits best into your needs and preferences. You can then see the results and quickly determine what you have been performing the best with.
Politics is one of the most divisive and highly talked about topics in every country. It affects the future of a nation and often the future of the world when you are dealing with a superpower such as the United States. Betting on the outcomes of these elections adds even further interest to the equation.
All licensed sportsbooks in the USA require you to verify your new account before you can start betting. This means that you need to scan some photo ID and proof of address to verify the account. This approval will usually be pretty quick and seamless with most of the available sportsbooks.