How to bet on Politics?
The world of politics is always changing. Candidates and politicians come and go constantly with new headlines being created every day. With political victories and scandals alike being fascinating, the media covers the scene in depth. Due to this massive interest, political betting has become very popular.
People back their feelings on what candidates or political party is going to come out on top, putting their bets through political betting sites. This guide looks at all of the different aspects associated with betting on political events.
How to bet on Politics?
With sports betting being big business across the world, it is only natural that sportsbooks were going to spread their focus even further afield. One of the most divisive issues in the world today is politics. This makes for great betting markets, as there is always a lot of interest in the outcome of these political events. These days, there is a variety of different betting types for you to consider with political betting online.
Different types of political betting
Just like with traditional sports betting, there is a selection of different types of US politics betting markets and betting types to check out. You can use each given bet type on a certain situation, depending on your needs. Here are some of the most common types of political bets:
- Odds to Win/Future Bet: This is the most standard form of a political bet, whereby you are betting on a given candidate or party coming out on top in an election. For example, you may be betting on what candidate you think is going to be elected as the next US president.
- Political Prop Betting: A political proper bet is where you are placing a bet on a certain candidate doing something. For example, there may be a betting market on whether or not the president will get impeached or whether the president will wear a certain color tie at a given event.
- Head to Head Bet/Money line: A head to head bet sees you putting two candidates against one another to see who comes out on top. For example, you may be trying to figure out what candidate will be selected as the presidential candidate for their given political party. There could be a head to head bet where you are pitching two candidates against one another, betting on one of these to have more votes or better numbers.
- Over/Under: An over/under bet is one of the most popular types of betting for bettors. In a political betting context, you may have an over/under market on how many swing states a given presidential candidate is going to win for example.
- Point Spread: A point spread is also very popular in sports betting. In terms of political betting, the spread could be by how many votes a presidential candidate wins the popular vote by. This applies a handicap to the favorite in this race to offer better odds.
What political events can you bet on?
Every year, there are many different political events taking place both in the US and overseas. These all provide certain betting opportunities and generate a lot of media interest. All of the major world events, such as Brexit and trade wars will usually provide betting markets. Here are some of the most popular political betting events:
- US Presidential Election: The biggest of all political betting events is naturally the US presidential election. This sees the Democrat and Republican candidate battle it out to see who will come out on top to win and be sworn in as president for a four-year term, such as in 2020 when Donald Trump goes against Joe Biden. There is also a libertarian candidate, but they are never competitive in the actual outcome of the election. You will have the best variety of markets usually for the presidential election.
- US Congressional Election: Another major political betting event is the congressional elections. This sees politicians from across the country vying to become a part of Congress. There are a lot of variables to consider in this election, with a lot of uncertainty meaning that there are plenty of valuable betting opportunities to check out.
- Democratic Nominee: There are usually a lot of candidates looking to secure the Democratic nomination to battle it out in the presidential election. The process of finding a nominee takes place over an extended period of time, with campaigns and debates taking place during the process to see what candidate ultimately comes out on top.
- Republican Nominee: Many candidates will also be looking to secure the nomination as the Republican presidential candidate. This list will be a long one in the beginning, presenting a lot of opportunities for betting on a dark horse. As time goes on, the candidates fall away and the race comes down to just a handful of potential nominees.
- Other Events: There are many global political betting events that also hold the interest of people in the US. One of the biggest of these in recent years was Brexit in the United Kingdom. There could be betting on what political party wins power in Canada after a general election or who will be the next president in Brazil for example.
Politics Betting: Tips from BettingBilly!
As you may not be too familiar with political betting, there are some basics that you should learn before throwing yourself into the deep end. This will boost your chances of having a more profitable experience over the long run.
- Pay attention to scandals: A political candidate can appear to be untouchable and odds on to win a given election. However, scandals usually come out during a political campaign and these can massively derail the chances of a given person. Therefore, always keep a close eye on any emerging scandals and factor this into your betting.
- Research poll data: Poll data can be a great way to give you an indication as to how a given election is going to turn out. While these polls should not be completely relied upon, they are useful for giving you a general feeling of how this election is going to turn out. The more data you have access to, the better.
- Has the candidate made any mistakes?: Political warfare is intense and even the smallest slip-up can provide their opponents with a massive amount of ammunition. This is why debates often shine the spotlight on candidates, as under the bright lights they can say something untoward and make mistakes that significantly affect their campaigns. This is why you should always keep a close eye on any mistakes that may change the sentiment of voters.
- Don’t let your political opinions or beliefs get in the way: Just like with other forms of gambling, it is important that you do not let emotion enter the equation when you are making a betting decision. Otherwise, you can make rash decisions and lose money. Politics is one of the areas in life where people are most opinionated, making this even more important. Leave your own political beliefs at the door if you are looking to make some profitable wagers.
Is political betting legal in the USA?
Political betting is becoming more and more popular across the world. The regulated gambling sector is still expanding and maturing across the United States. Therefore, every individual state is going to have its own rules about the likes of political betting.
There are some states where political betting is fully allowable, whereas other states that have sports betting will not allow political betting. Therefore, you need to see what the rules are in your state. You can do so by using the BettingBilly state checker tool.
It is always a safe bet to use a regulated operator in your region, giving you confidence that you will get paid out on your bet if it is successful. As time goes on, political betting will become more and more popular across the USA.
Political betting vs. Other types of sports betting
There are similarities between political betting and sports betting. Most of the major markets are seen in both of these areas, meaning that it is easy enough to transition between the two areas and still understand what is on offer. When it comes to actually betting, previous results have little or no influence with political betting as opposed to sports gambling.
Things can be completely different with each election, so a blank slate is needed in this case. As there is not as much of an extensive knowledge about political betting, a lot of sportsbooks will not be as knowledgeable about setting the odds than they are when setting odds for sports. This is often something that a bettor can take advantage of.
Why bet on politics online?
If you are looking to get involved in betting on politics, doing so online is perhaps the easiest way to start. You can quickly see what the different markets are and placing bets is very quick. Here are some of the most important advantages to consider:
- Variety of markets: With online gambling, you will have access to more markets usually than you would if you were using a retail sportsbook. You can easily see all of these markets and what odds are on offer. You are able to easily shop around with different sportsbooks as you please in order to find an offering that has the best variety of markets for your needs.
- Compare odds: It is a lot easier to find the best odds for a given bet if you are online rather than physically having to go to different retail sportsbooks. Everything online is quick and easy to access. This means you can have an account with all of the leading sportsbooks and see what the best odds are and where you can find them for one of your bets. This will help to boost your bottom line over the course of time.
- Research: You have tons of different resources available to you online when you are conducting your research. All sorts of data, insight scoops, breaking news and details about scandals can be found online, whether it is through social media, news sites or trusted sources. Everything is on the internet, so you don’t have to rely on books and newspapers that could be outdated even a few hours after they have been published.
- Mobile betting: You also have the option to place bets on political events even if you are not at your desktop computer. You are able to access mobile sportsbooks no matter where in the state you may be. This provides you with great flexibility, allowing you to always have access to place bets.
- Promotions: Online sportsbooks offer all sorts of promotions in order to incentivize bettors. New players will be attracted by welcome offers that give you free bets, while existing account holders will get all sorts of bonuses and money back offers to avail of. These are not as common when you go to a retail sportsbook. They give you the ability to minimize your downside and maximize your profit potential, something that is always going to be welcomed.
- Ridiculous Props: A lot of online sportsbooks will provide you with funny and ridiculous prop betting markets that retail sportsbooks do not provide. These can make you laugh and also are a great way to have a bit of fun when you are getting involved in political betting.
With most types of betting markets, there is always going to be the chance for you to make money unless they are completely ridiculous and joke markets. Oftentimes there is a flip of a coin involved in the presidential election, as well as great upsets. The 2016 presidential election is an example of this in effect, with Donald Trump being the strong underdog against Hillary Clinton.
It is always best to deal with sites that are licensed in your state. You can see what these platforms may be for your specific region by having a look at the BettingBilly state checker tool. You should check the licensing of a given site and look at social media and forums to see what real bettors have to say about the offering.
There are many different types of political bets that you can place. Prop bets are very popular in sports betting and they have made their way over to the political space. An example of a political prop bet could be something like what color tie Donald Trump will wear at a debate, a betting market on who might get a presidential pardon or what states a given candidate will win in 2020.
If US political betting is allowed, non-US betting is almost always allowable. The types of markets that are offered on a sportsbook will depend on the scale of the political event and if there would be a demand for this market. For example, Brexit would have been a popular market for US bettors.
This is completely going to be dependent on what state you are going to be placing the bet in. Each region will have its own rules about the legal age for sports betting. Many states allow you to place once you are 18 years old, while others will require you to be at least 21 years old.