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• Can You Bet On Us Elections 2020
• Bet On Presidential Election 2020
• Can You Bet On Us Elections Today

The London-based Betfair is now the biggest name in election prediction markets, but of course you have never heard of that because, again, it’s technically illegal for Americans to bet on. Politics gambling may not be legal anywhere in the United States. But many Americans do have access to it. A number of offshore bookmakers that serve Americans feature political betting. They offer odds on the US Presidential Election along with other are prominent races. Informal Presidential Election betting markets flourished in 19th century Wall Street, but have been illegal since the 1930s, and remain so in the United States. During this time, however, bettors managed to correctly predict 11 out of the 15 presidential election outcomes (Source).

After the federal ban on US sports betting fell in 2018, many states have regulated sports gambling. They now give gamblers an opportunity to wager on many types of sports.

Some states, including Colorado and New Jersey, even going so far as to allow bets on entertainment events (e.g. The Oscars).

But one type of wagering that’s completely absent in the United States is political gambling.

Certain countries, like the UK, allow their people to gamble on politics. Will the US ever come around to this idea as well?

I’ll discuss this matter by covering the history of American political betting, how it became banned, and if it will come back again.

Gambling on US Politics Was Once Allowed

The idea of allowing Americans to gamble on politics seems ludicrous today. After all, regulated sports betting has only recently become an option.

Once upon a time, though, political gambling was alive and well in America.

People widely bet on political races from the inception of the United States of America to the mid-1800s.

Back in these days, many states had unregulated gambling markets. Most state governments didn’t really care that people were betting on politics.

By the mid-1800s, though, much of the country had banned various types of gambling.

But according to an academic paper written by Koleman Strumpf and Paul Rhode, people continued betting on presidential elections from 1868 to 1940.

This type of wagering was extremely popular in those times. In fact, Americans once bet nearly $200 million on a presidential election.

This gambling action was technically illegal, but it happened regularly anyways. Political wagering even took place on the floor of the New York Stock Exchange.

Every State Eventually Banned Political Betting

Nevada has been offering sports betting since 1949. As a result, they were grandfathered into the previously mentioned federal ban on sports gambling (a.k.a. PASPA).

Nevada sportsbooks make hundreds of millions of dollars in annual revenue.

They’re always looking for new ways to increase their profits. In 2013, bookmakers proposed that the state allow political betting.

The Nevada Gaming Control Board reviewed the proposal and promptly rejected it.

Nevada isn’t the only state that’s upholding a ban on this type of gambling either.

Other states that have legalized sports wagering from 2018 to today also deem political gambling to be unlawful.

They’re within their rights to legalize political betting. No current federal law prevents a state from accepting wagers on politics to date.

Nevertheless, all 50 states—whether they allow sports betting or not—have failed to approve political wagering.

West Virginia Legalized Politics Betting for One Hour

West Virginia briefly became the first American state to legalize betting on political races. I emphasize the word “briefly” here.

The West Virginia Lottery, which also oversees the state’s sports betting market, gave bookmakers approval to allow sports betting in April 2020. Their approval extended on everything from local races to the US presidential election.

FanDuel quickly hopped on this opportunity and started offering odds on the presidential race. They pegged the incumbent, Donald Trump, as a slight favorite to win over Democrat Joe Biden.

This scenario only lasted for an hour. The West Virginia Lottery promptly asked FanDuel to take down their odds.

Secretary of State Mac Warner contacted the lottery organization and expressed his disapproval.

“Not today. Not tomorrow. Not ever. This is a terrible idea. Let’s shut this down right now and be very clear about it.”

West Virginia Gov. Jim Justice also thought that approving political betting was baffling.

“I thought, you know, are you kidding me? The first thing that came to my mind was, you know, what next?” Justice add, “It’s humorous, but it’s ridiculous.”

The office of West Virginia Lottery Director John Myers was behind the curious decision. Myers chalked the matter up to a simple mistake.

“I thought it would be okay, but after review, it was clearly a mistake. We just screwed up,” Myers explained. “I didn’t have the authority to do it, it should have never happened and I apologize to everyone.”

What Are the Main Problems with Betting on Politics?

You can see that states definitely aren’t on board with political gambling right now. But why are they so against it?

The main reason revolves around potential manipulation. Officials in every state largely agree that political betting could manipulate results.

Their manipulation concerns aren’t necessarily the same ones shared by certain sports governing bodies. The NCAA, for example, worries that their amateur athletes are more susceptible to bribes as a result of legal gambling.

Under normal circumstances, the long shot could still have a chance to win. Politics aren’t set in stone after all.

But they have less of a chance to win if supporters mistakenly believe that their favorite candidate has no chance. The “Romney Whale” incident involving the now-defunct Intrade proves this point.

Intrade was an online trading exchange that ran from 2012 to 2013. It allowed users to trade (a.k.a. gamble on) contracts with each other on the probabilities of different events occurring.

The site let people trade contracts on who would win the 2012 US Presidential Election between Barak Obama and Mitt Romney. Research shows that one person in particular placed between $4 million and $7 million on Romney through Intrade.

Economist Rajiv Sethi (Columbia University) and David Rothschild (Microsoft Research), who authored the research paper, noticed a flurry of bets made on Romney within the last two weeks of the election. They noted that “Trader A” made up one-third of the total money wagered on the Republican candidate.

Romney had been falling behind in the polls before the numerous bets started coming in. Rothschild and Sethi speculate that Trader A was trying to keep Republican morale high so that voters would keep turning out.

They also note that Trader A could’ve simply been hedging their initial bets on Obama. However, the pair leaned more towards the manipulation explanation.

The Commodity Futures Trading Commission (CFTC) filed a civil suit against Intrade in November 2012. They claimed that Intrade hampered their ability to “police market activity and protect market integrity.”

Intrade suspended its operation in March 2013 while citing an investigation of “potential financial irregularities.” This point essentially marked the end of their operation.

Will States Ever Change Their Minds?

Not every state is as against political wagering as the US. Again, the UK allows this type of betting across the country.

But the UK’s legal sports gambling market has also been running much longer than America’s market. As time goes on, some states may gradually change their tune on political betting.

These changes in opinion likely won’t occur anytime within the next decade or two. However, 30 years or more down the road could finally bring political betting to the US.

Nevada and West Virginia have already received requests to offer gambling on politics. The Silver State quickly rejected the idea.

Meanwhile, the West Virginia Lottery briefly allowed political gambling. But they pulled the plug after just one hour.

Every state that offers sports betting will likely receive at least one request for political wagering. They’re also probably going to reject this concept just like Nevada.

States will eventually warm up to the idea in future years.

Offshore Sportsbooks Already Offer This Type of Betting

Politics gambling may not be legal anywhere in the United States. But many Americans do have access to it.

A number of offshore bookmakers that serve Americans feature political betting. They offer odds on the US Presidential Election along with other are prominent races.

Offshore sportsbooks have been offering this form of gambling for years. That said, they must be doing well with it.

Most of America isn’t much different than the UK when it comes to political betting.

The fact that unregulated sportsbooks have profited off Americans for years has been a big motivational factor in legalizing sports gambling. It can also motivate states to eventually allow politics betting.

Conclusion

Gambling on political races has been a part of American culture since the country’s origins. Even dating back to the late 1700s, people placed bets with each other on who would win presidential elections.

The only time this type of gambling has ever been legal is when West Virginia approved it in April 2020.

Attitudes won’t change on this form of wagering anytime soon. However, states will eventually begin looking at political betting within the next 1-2 decades.

Learn how to legally bet on the Presidential Election and other Political events in the US.

Legally betting on politics is one of those intriguing niches within the gambling industry, and unbeknownst to many bettors, political wagers can end up yielding a nice hefty payout if you place your bets right.

As a larger range of people have become more politically aware and involved during the last two presidential elections, the bettor base has expanded exponentially. Based on this steady growth in legal politics betting, we decided to include this gambling platform as one of the topics covered in our guide.

The irony of betting on the elections and events associated with those politicians attempting to outlaw gambling is not lost on the American people. However, it is still prudent to make sure you understand the legalities surrounding political betting, and what legally sanctioned options should really be considered.

Legal Status For Betting On Politics In America

Many players just want a simple explanation as to whether or not it is legal to bet on politics in the United States. The short answer is yes, betting on political events online is legal in the US simply because there are no specific federal regulations that outlaw the act of offshore gambling.

The repeal of PASPA has made things even more simple and we are likely to see both domestic and offshore legal political betting gain momentum.

Bovada is our top recommended sportsbook for betting on politics. Their lines are always competitive and comparable to the Las Vegas sportsbooks. Because Bovada caters almost exclusively to USA players, they put a lot of thought and work into creating comprehensive betting lines and odds for those who enjoy betting on US politics. They also sometimes cover big elections in other countries.

In addition, Bovada is a full-service online sportsbook, poker site, and casino. They support Bitcoin and offer same day payouts for cryptocurrency funding, as well as a nice 50% match bonus up to $250 in their sportsbook.

Pros

• Accepts USA players from most states
• Full-service sportsbook and casino
• Owned and operated by trusted Bodog brand
• Most trusted site for US players
• Fast payouts on time every time
• 50% bonus up to $250 for sports
• 100% bonus up to $3,000 for casino

Cons

• Excluded States: NV, NJ, DE, MD

Other Top Rated Sportsbooks
That Offer Political Betting Odds

The following is a list of the most reputable offshore betting sites in the industry. They pay out winnings just as fast if not faster than the US-regulated options and many of them offer some great ongoing promotions and bonuses for loyal players. The brands listed below offer futures, props, and betting lines for US politics along with a full-service sportsbook. Our sportsbook reviews page is intended to inform you of each sites pros and cons while offering an overall grade and detailing additional features.

Is It Legal To Bet On Political Events In The US?

Yes, there are legal options for betting on politics in the US. Though state-regulated sports betting has expanded quite a bit across the country, there are no domestic sportsbooks offering political betting odds or lines at this time.

There are no US federal gambling laws prohibiting political betting at reputable, legitimate online sportsbooks operating legally outside of the United States or at domestic sportsbooks. Only two states restrict online betting at international political betting sites, CT and WA (though these restrictions remain unenforced).

State Gambling Laws Affecting Political Betting

A handful of states have already embraced state-regulated sports betting, while others are in the process of doing so. State-regulated sportsbooks are not interested in covering US politics at this time, and we don't expect that to change before the 2024 Presidential election, the senate and house elections, or the 2024 gubernatorial races.

It is perfectly legal to place bets on US or foreign politics through the trusted sites listed in this guide. Our ballot measures by state guide is a resource where you can track gambling bills to see what changes are being voted on for gambling reform in your area.

There are two states that prohibit online wagering of any kind regardless of the source, those being Washington state and Connecticut. While there is no evidence of enforcement of those restrictions, the fact remains that the laws are in place. We do not condone or encourage illegal gambling in any circumstance.

2021 Political Prop Bet Odds

Even though the Presidential election sees a great deal of betting action every four years, political prop bets provide bettors a way to cash the odds of what a politician will or won’t do, and sportsbooks frequently post a variety of entertaining novelty prop bets during the lull in between election seasons. The following political prop bets can be found online at Bovada sportsbook.

Gambling On Who Will Win The United States 2024 Presidential Election Race

The next US Presidential election will take place on November 3, 2024. As of now, there are no clear Presidential Candidates but online sportsbooks have odds for potential candidates.

2024 Presidential Candidates

Odds available at Bovada

• Kamala Harris +450
• Joe Biden +600
• Donald Trump Sr. +800
• Nikki Haley +1200
• Andrew Yang +1600
• Mike Pence +1600
• Michelle Obama +2000
• Pete Buttigieg +2000
• Alexandria Ocasio-Cortez +2500
• Bernie Sanders +2500
• Beto O'Rourke +2500
• Elizabeth Warren +2500
• John Kasich +2500
• Mark Cuban +2500
• Stacey Abrams +2500
• Andrew Cuomo +3000
• Tim Scott +3000
• Ted Cruz +3300

Types of Political Wagering Lines and Odds Offered For the 2024 Presidential Election

As you might imagine, the big bet here boils down to the big office. Who will win the Presidency is always the biggest betting line. And you can often find more than just a winner-loser dichotomy; you can actually bet on:

• Electoral vs. popular vote totals
• Winning percentages (like point spreads)
• Other variations in a single 1 vs. 1 election

You can also find betting lines on entire parties. For instance, the 2018 Midterm Elections had Republicans favored to take both houses of Congress. They kept the Senate but lost the House to the Democrats. The next midterms may be reversed or be a clean sweep for one of the two major parties.

From a local standpoint, gubernatorial and even council member races are always hot-button items on the betting circuit. You can find a range of different political events and elections on which to bet.

You can also find prop bets, which will include things like the gender of the winner, the party of the winner, a clean win vs. a run-off/recount, and even bets about legislation like health care or immigration. Prop bets also include events such as debates.

If it's part of politics, then there's undoubtedly a sportsbook out there with a betting line on it.

Betting Odds Explained - The Most Common Types Of Betting Lines Available:

Odds for winning the 2024 Presidential Primary – This type of betting line will allow you to bet on who will win the nominations in the primary for each party. If you are participating early in the process and are placing a futures bet, your range of options may include individuals who have not yet announced their candidacy but that are active in the political landscape and are considered potential candidates.

The closer you get to the actual election, the more accurate your list of options may be. However, keep in mind that the futures bets can pay off big if you guess correctly.

Odds for Winning the 2024 US Presidential Election – Obviously, this type of betting line will concern the overall winner of the election. You will typically have a variety of associated lines, including the following:

• Odds for who will win the 2024 Presidential Election
• Odds for which party will win the 2024 Presidential Election
• Odds for which gender the winner of the 2024 Presidential Election will be
• Odds for the gender balance on the 2024 Presidential Tickets – this line is sometimes broken down by party affiliation, but not always.

Odds On Who Will Be Selected As The Vice President

In August of 2020, Joe Biden selected Kamala Harris to be his running mate and the nation's Vice President should he win the election. Most oddsmakers had Harris as the favorite to earn the spot for the majority of Biden's campaign.

Odds For Winning a Specific State – This type of betting line predicts the winner of influential swing states. For example, the Iowa Caucus odds start surfacing very early in the race. Other states are added closer to the actual election.

Winning the electoral votes in an influential state can make or break the election, hence these betting lines are particularly exciting and can determine the outcome of the election. The results of swing state Electoral College votes can be unpredictable, as we saw in 2012 when Obama took Florida despite the fact that Romney was the favored candidate to win the Sunshine State. We saw it again in a series of once-Democratic strongholds in the Midwest when Trump took states trending favorably for Hillary Clinton.

Odds For Winning the Popular Vote – Once the candidates have been selected, you will find more betting types added to the line up, such as betting on who will win the popular vote. Though it has no bearing on the overall election, political aficionados enjoy betting on who will win the popular vote.

There are times when the winner of the popular vote is not elected as President. The popular vote can be unpredictable, making it a very exciting wagering option. This type of option typically does not appear in the lines until about a month or two out from the actual election.

Electoral College Count - You will find that your range of wagering options for these lines increases after the candidates are selected and the election is approaching. This is when additional prop bets and specific options appear, such as over/under wagers for betting on the Electoral Vote count. In this type of political betting line you are predicting whether a candidate will receive more or less Electoral College votes than predicted.

Prop Bets - Some of the sportsbooks now offer some interesting prop bets for the upcoming election. You can wager on which candidates will win in hypothetical head-to-head matchups, what issues will be debated at a given townhall, and so on. Political props come and go on a near-weekly basis during the election cycle, so it's always good to pay attention to breaking news stories and how those might prompt new props or alter existing lines.

Why Betting on Politics Intrigues Us

One of the most amazing things about President Barack Obama's election in 2008 was that no one had really heard of the man in 2007. A junior Senator with an iffy record of no-votes and voting 'present' on big issues, even those getting to know him didn't think he had the political chops. However, democracy proved what democracy is, in that experience counts for next to nothing when you're a popular, charismatic figure.

The people spoke, the people voted, and President Obama served two terms in office. Who actually saw that coming? Very, very few saw it coming. But for those who did, they may have cleaned up in the betting lines by betting on Obama for the win. When Trump ran in 2016, his odds were even longer, and now its possible he may win re-election to a second term.

The beautiful irony here is that it's actually politicians who seek to make gambling illegal across the nation, yet one of the most lucrative lines of betting is to wager on their elections and futures. Some may consider that to be very fitting, given the duplicitous, snake-like nature of many of these political buffoons.

But we're not out to play politics. Republican or Democrat, liberal or conservative, socialist or anarchist, it matters not. It's all about the gambling here, and we'll take a closer look at political betting for all interested parties.

How to Hate Politics but Love Betting on It

Compartmentalization is a word you may often hear, but you may not really know what it means. Well, put it this way: You can absolutely loathe the political process, yet you may still find a way to make money by gambling on politicians. Don't worry; this isn't cognitive dissonance. This is simple math. Money spends better than hatred. Now, of course, there are plenty of reasons to despise politics.

People who aren't even as smart as you, yet they stand on a podium, lie to the masses, and earn hundreds of thousands of dollars a year in salary and benefits. Heck, when a politician retires, they earn a pension package that's probably higher than your salary, and they could have been a horrible politician. It's no wonder Congress has such low approval ratings. The average person despises politics.

But keep in mind that a government is something you're stuck with. Death and taxes, they say, and a savvy politician will even tax your death! How's that for control? There's just no shaking government; it's a monolith that's always with us. So, as the old adage suggests, one must laugh to keep from crying. Betting on politicians' fates can actually lighten you on the subject. You can learn to love gambling while still hating the political process.

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