Election betting may not be the first thought that springs to mind when you think about finding an exciting event to place your money on. However, it’s actually right up there in popularity and excitement with sports betting – right alongside betting on horseracing or the NFL. You can win big money and you can have a lot of fun.
Just as the name suggests, you’re betting on the outcome of presidential elections, or elections to choose any form of democratic leader. This can be your local election for a councilor, or it could be the election for the leader of the USA, the UK, or any country where elections are held.
There are plenty of online casinos and betting sites that offer election betting. To get in on the action, all you need to do is sign up for an account and follow the process for placing your bet.
How To Read The Odds
The odds in election betting are very similar to those found in any sports betting. The betting website will take all the candidates and give them odds based on likelihood to win. As the player, you can shop around for the best odds for your favorite candidate, or you can check out the odds on different sites to give you an indication of who is most likely to win.
The odds are indicated in numbers, with a + or a – before the number. For example, +250. This + before the number means that you’ll win $250 for every $100 you bet on that candidate – should the candidate win.
If there is a – before the number, that number indicates how much you need to bet in order to win $100. For example, -125 means you need to bet $125 to win $100 above your bet, if that candidate wins.
Don’t Just Bet On Who Will Win
As with sports betting, you don’t just have to pick your favorite to win. There are plenty of other ways to get in on the action. You could bet on the party that will win. You could bet on how many seats a specific party will gain. In the US, you could bet on which party will win which state.
There are many bookmakers who will even offer you odds on fun scenarios like who would win a celebrity boxing match if that ever happened. In the USA, you can even find odds for who is most likely to get indicted next.
These markets might be quite silly and good for a laugh, if you don’t want to take your politics too seriously. They’re also good for some high wins if you play your cards right.
It Isn’t Just For Money
Election betting has become quite a serious indicator of how particular candidates or parties are doing in an electoral race. Parties and pundits will often look to the odds being offered to get an overview of how the public perceives them and how they’re holding up against their competitors.