Did you know that most countries do not allow political betting?
Officials from many countries, including the United States, think that betting can compromise the integrity of a nation’s electoral system. The United Kingdom, however, is one exception.
The UK has no restrictions on political betting on a large scale. In fact, political betting in the country has never been more popular. Bookmakers are now taking on a wide range of markets to place bets on. Aside from UK political betting, they are also diving into international elections, particularly in the United States.
In this guide, we will walk you through the kinds of markets you can bet on, the types of bets that are the most popular, and several tips on how to place your political bets.
What Political Events Can You Bet On?
Bookies in the UK don’t just cover major election events in the country, they touch on smaller ones as well, including by-elections. They also offer bets on other important political events as well, like the 2018 Brexit Vote.
Apart from UK political betting, you can now also place bets on American and Irish politics, as well as other countries depending on how relevant their political races are. You can take bets on not just political elections, but also vice-presidential candidates, Democratic and Republican primaries, both nominations and winning parties, and even college votes.
Other influential governments around the world can be used as a basis for gambling as well. These include governments in Australia, Scotland, Germany, and France. Most bets on these countries revolve around political leaders, but sometimes you can come across a unique market like referendums on independence.
In short, political betting is thriving – bookies will cover just about anything that will bring in cash. And that means that they will dedicate mass coverage to bigger races like the Prime Minister elections rather than the Gloucester mayoral race, for example. They want events that generate the most interest. This same principle obviously stands for other popular races or significant votes.
Some of the most popular markets include:
- UK politics
- US politics
- European politics
- Australian politics
Some of the major political events that people are welcomed to bet on include:
- UK Prime Minister elections
- US presidential elections
- German Chancellor
- UK Labour leader
The most popular markets are presidential and prime minister elections as both attract the most bettors, giving them generous political betting odds.
US Presidential Election Betting
The US presidential race is as unpredictable as ever. This provides punters great opportunities to earn some extra cash.
Since 2016, interest in the US general elections has spiked in the UK as well as the rest of the world —and why shouldn’t it? If a reality show TV host can become the President of the United States, then all bets are off, so to speak. Bets on this market can be very profitable since bookies are most likely to undervalue a candidate.
The 2020 presidential elections are expected to be the most active political betting market in history.
UK General Election Betting
The general election for prime minister is the most anticipated political betting event in the United Kingdom. General elections typically take place after fixed intervals, however, countries are often known to call general elections during a term as well. This happens when a party seeks to gain more power in the government and this has happened many times in the UK.
So, as you can see betting on general elections is pretty prevalent.
By-elections are held in the UK to determine the representative of a specific constituency. These elections are designed to fill a vacancy that has occurred during a government’s term. Since they do not occur after a fixed term, it provides punters a happy and surprising chance to place their bets on who will fill the vacant seat.
However, more than that, by-elections are also indicators about the political currents in the country. Although a single constituency does not represent a whole country, a member of a major party who has been forced out of his seat can cause a major shift in the country’s political landscape. This can have a huge effect on UK politics odds.
Betting on Current Events
Since the odds keep on growing, this has encouraged online bookmakers to post new lines in between election periods. Bookies have been known to place political odds on virtually everything.
Sometimes punters can bet whether a specific legislation will pass. You may also see bets on who will be the next Supreme Court Justice or how a country will respond to a new foreign policy issue.
This means that online political betting sites keep handicappers that like to bet on politics in the middle of the term.
Political Betting Odds
Political election betting odds are liable to change at a moment’s notice since there are so many factors influencing the outcomes. Because of this, political betting may not result in a huge payout unless the expected outcome is very clear. So, tipsters often say that punters should either bet high stakes or not bet at all. Such is the nature of the political betting market.
That’s because there isn’t much money to be made unless you are 100% sure that a candidate will win, and considering the unpredictable nature of politics, this cannot be easily determined.
There are always exceptions, however. In the past, there have been many close political races like Gordon Brown vs David Cameron vs Nick Clegg or George Bush vs John Kerry, where the results were still undetermined. These types of elections were made for Political betting.
An important tip for punters is not to become over excited when they see a short-priced candidate. Patience is invaluable. Bettors should wait for a close candidate, analyze how public sentiments will affect the results, and determine their own political loyalties, of course. Make your bet and then pray that the rest of the country backs you up.