Presidential & Election Betting
Many are not aware that it is possible to bet on different political events in the United States, and this is for good reason. If you walk into a brick and mortar casino in Las Vegas, for example, you will not see posted odds on political events. In the US, this type of wagering is not permitted at physical casinos. If you would like to bet on political events, however, there is no shortage of options available to you online, whether you live in the United States or elsewhere.
Types of Political Betting
There are a number of different types of political bets that can be made. For the most part, the availability of bets depends primarily on what stage the election cycle is in. If it will be a few years until there is a new general election, there is not going to be much action on the political betting arena. As primaries come closer, however, there will be more and more bets available. You will be able to bet on who will win individual states, who will be the party’s nominee, and who will win the general election.
On many sports betting sites, future odds can be found for events that won’t take place for several years. For example, in 2016, you can bet on who you think will win the 2020 election. You can bet on the typical options and the political staples, or you can receive 10,000/1 odds and throw your money on a candidate like Kanye West or Kim Kardashian. Whatever you want to bet on, the odds are you can get action at one sportsbook or another.
If there are many candidates in the running, you will be able to not only bet on which particular candidate will win, but also which party as a whole. If you feel that Democrats have no chance, but don’t know which candidate will win from the Republican side, you can simply bet on the Republican party to win. Since there will generally be a common favorite for any primary or election, betting on a party will not usually offer great odds. For example, if Republican is -220 to win, and Democrats are +220 to win, a particular Republican candidate may be -350, depending on how many are in contention. Betting on the party winner is the safer, lower risk way to bet on politics in the United States.
Winner of State Primaries and Caucuses
One of the most exciting ways to bet on the presidential race and process in the US is by betting on the individual state primaries and caucuses. With each state having their own polling for each party, this means there is around 100 unique opportunities to bet on the winners. The drawback to betting on events like these is that there tends to be less action as a whole, and the larger pool of candidates, especially at the beginning, will mean that bookmakers will usually add a lot of vig to their listed lines and prices. You should have a lot of confidence if you are betting on these type of events.
Since the odds are not going to offer a great chance at long term profitability in these primaries and caucuses, we encourage bettors to make friendly wagers with their friends instead. This will likely make your bets both more fun, and more likely to return a profit when eliminating the sportsbook juice.
Winner of Party Nomination
Party nomination bets are usually able to be placed many months before the primaries themselves start, and often times even sooner. Currently, there is little doubt that there will be two candidates when it comes to the general election, so the only question is who will be the nominee for the Democratic and Republican parties respectively. The Republican field tends to start with more candidates than the Democratic field does, which is largely due to the different processes that each party uses for their nominee selection.
Republicans may start with 10 candidates and be whittled down to around three after a dozen or so primaries. Sometimes, however, many candidates will remain for an extended period of time. For Democrats, however, betting on who will win the party nomination usually means choosing between one of two candidates. For this reason, you will stand to win much more money if you are betting on the winner of Republican party nomination than if you are wagering on the Democratic side.
Future bets can be made on party nomination winners. You will receive better odds the further out that you place your bet. If you wager in March, for example, you may receive 5/1 on any candidate, while placing a bet in September of the prior year of the election cycle may yield 10/1, 25/1, or even 50/1 or longer odds on any given candidate. For example, at one point bettors could have bet Donald Trump at 100/1 to win the Republican nomination at Bovada, though he ended up becoming the prohibitive favorite as the primaries ran their course.
Winner of General Election
Betting on the general election is where the most action takes place. Whether bettors are getting their action from friends or sportsbooks, there is a lot of money being wagered on who will become the next President of The United States. Usually the favorite will be no better than 1/3, while the underdog will be no worse than 3/1. Of course, each election is different, so these odds are very prone to change.
If one candidate is up for re-election, they will usually coast through the process of nomination and then also be the favorite to win the general election. This is not always the case, but as a general rule of thumb, re-election cycles will have less volatility in odds than when a new President is about to take office.