Since 2016, betting on the outcome of elections has become increasingly popular. And with all the intrigue and strategy that surrounds elections and politics, it’s no surprise that betting on these events has become popular.
Although election betting has been going on for years in Europe, American citizens – as well as those living in the USA – are only able to bet with offshore betting sites. However, this doesn’t mean that Americans are not allowed to get on the outcomes of US elections. All that they need to do is to find a reputable offshore betting site. In fact, the US elections are the most popular to bet on and this started when Donald Trump won the US Presidential Seat over Hillary Clinton in 2016.
Election Betting In Other Countries
One of the massive events in recent times, on which election bettors placed money, was Brexit. Unfortunately, as many betted against the UK, leaving a lot of money was ultimately lost as the betted-against departure actually took place. Other types of election betting take place on events such as the:
- London mayoral elections
- Next leaders of each major party
- General elections
Another country, whose presidential elections are popular with bettors, is France. The French elections take place every five years and a two-round election system is used. This gives bettors ample opportunity to make wagers at any point in the process.
The Nuts And Bolts Of Election Betting
In its simplest format, election betting is all about putting a wager on who you think will win the presidential election. However, this type of betting only constitutes a small percentage of bets. Take a look at some of the others.
A moneyline wager bets on a specific outcome, such as which party – in the US Presidential Elections – will win. However, in a situation where there are two possible outcomes, there isn’t a 50/50 chance of either side winning this means that the moneyline bet assigns a certain monetary payout for each scenario.
To demonstrate how this works, if one side is assigned a -150, you’ll need to be $150 on them to win $100. However, if a side has odds of +125, for every $100 that you bet you’ll win $125.
A futures bet is a wager that will be decided on in the future.
Short for ‘proposition’, this type of bet covers political outcomes further than the election itself. To use the example of Donald Trump, a bet could be wagered on whether or not he will survive his first term in office should he be re-elected. Other aspects related to Trump’s presidency – such as his tweets, etc., – would also fall under a prop bet.
The election betting industry, as we said before, is mainly online and there are many websites out there which will help you to get the most out of your https://mobilebetting.kiwi/election/-betting experience. When choosing a website to partner with, make sure that you do thorough research so that you’re not taken for a ride.