Political betting is one of the fastest-growing betting markets in the world. Billions of dollars are wagered on the outcome of the U.S. Presidential Race alone.
For gamblers looking for an edge, betting on political events can turn into something more than a cynical battleground or second act behind sports betting.
Below you will find helpful information about placing bets at political betting sites, strategies, plus other resources to help you pick a winning candidate.
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Political Betting Odds
With the 2020 Presidential Election coming up, betting on politics will be big this year. To bet on who will become the next president of the United States, check out the odds below and place your bets at MyBookie.
|Bet On Who Will Be The Next U.S. President At|
If you are still not ready to bet on who will become the next POTUS, you have other options – including who will win the Democratic and Republican nominations, or which party will be crowned the winner in the November election.
|Bet On Which Party Will Win The Election At|
Don’t Miss Our Best Presidential Election Betting Strategies
Best Political Betting Sites 2020
Larger or small, most betting sites these days offer at least a few political betting markets.
Check out the odds at our most trusted betting sites below and start wagering on politics today:
|Rank||Political Betting Site||Deposit Bonus||Get Started|
|#1||MyBookie||100% Up To $1,000||Deposit Now Discover More|
|#2||BetNow||100% Up To $1,000||Deposit Now Discover More|
|#3||Bovada||50% Up To $250||Deposit Now Discover More|
|#4||Sportsbetting||50% Up To $1,000||Deposit Now Discover More|
|#5||Betonline||50% Up To $1,000||Deposit Now Discover More|
MyBookie is one of the best political betting sites. Not only do they offer high limits, but there are betting markets available for every state and even future odds for the 2024 Presidential Election.
MyBookie truly has everything under the sun when it comes to political betting.
Betting limits at MyBookie are also quite large. They take $2,000 on the general election winner online and $5,000 over the phone. Props, such as which candidate wins each state in the Electoral College have a max bet of $500.
MyBookie has various methods for deposits and withdrawals. Their payouts are fast, and new bettors will receive a 100% Up To $1,000 bonus on their first deposit.
BetNow has excellent customer service, bonuses, and competitive odds. They don’t have many political betting options, but they still have the basics, such as election winners and several props.
Betting limits are low. They have a $500 maximum bet across all political betting markets.
The real draw at BetNow is their fantastic welcome bonus, elite support, and fast payouts.
They offer a cash sign up bonus for 100% Up To $1,000 of your first deposit. The rollover is also a generous 10x, making their welcome bonus offer incredibly valuable. They take a variety of methods.
A genuinely elite sportsbook with a legendary reputation. They have a massive list of betting options for the Presidential election, including a massive list of each state’s propositions, the popular vote, and more.
The betting site is one of the most trusted online with no slow-pay complaints for 20 years or more.
Bovada has betting limits in the five figures regarding which party and candidate will win the presidency. Props on individual states are lower, but bettors can expect these limits to be in the thousands of dollars, as well. New bettors will receive a 50% Up To $250 on their first deposit.
SportsBetting.ag has become an elite betting site in recent years. They’re an ideal sportsbook for both sports and political betting.
Betting options are vast at SportsBetting.ag, and that doesn’t change with politics. Their political betting markets match any other site on this list.
Bettors can wager $10,000 or more on the outright election winner or political party. Electoral college markets on individual states are also relatively high compared to competitors with a $2,000 max bet.
The Welcome Bonus is their standard bonus that offers 50% Up To $1,000 in free play. They also provide specific bonuses for using cryptocurrencies.
BetOnline is one of the sharpest sportsbooks online and the most popular. The sportsbook has some of the highest limits online for betting politics and a ton of different betting options.
They have competitive odds on nearly every sport globally, massive deposit bonuses, and odds boost promotions. Bettors can wager up to $10,000 on Obama or Trump to win 2020 election and $2,000 or more on individual states.
There are several deposit bonus options, including a 50% Up To $1,000 bonus and a variety of cryptocurrency or Bitcoin-based bonus offers.
Political Betting Markets Have Expanded
Betting on the outcome of elections has been around for quite a while, but the expansion of markets in the past few years has been impressive.
In the older days, political markets were small, and usually just consisted of odds on Republican and Democratic nominations and the Presidential election. These days, it’s much more than the above.
Bettors can now wager on the winners of primaries in each state and a ton of other stuff, like margins of victory, and even if one of the candidates will face federal charges! There is a huge market for betting on politics, including which candidate will win each state or who wins the popular vote.
International sportsbooks, particularly those based out of the United Kingdom or Ireland, have more extensive offerings in political markets, with considerably higher betting limits than most U.S. sportsbooks. Their markets extend far beyond the American political spectrum. They offer odds available on politics from across the world.
Election Betting Strategy
Political betting markets are one of the best novelty markets for bettors to consider attacking, even if they have little or no interest in politics. Value can be tough to spot, but as we get closer to election day, profitable betting opportunities will open up for sharp bettors.
Betting Tip #1Most Political Bettors Are Recreational
The one thing about more obscure betting markets is that a significant portion of the players that bet them are recreational or losing bettors. Politics are polarizing, there is rarely unilateral action in politics, like some other proposition or recreational markets.
Sharp bettors should usually be able to get themselves a decent price as they get closer to election day because there’s almost always proper action on both sides.
Betting Tip #2The Market Is Inefficient
It isn’t a secret that sports betting markets can predict the outcome of sporting events closer than anyone in the media. The accuracy of the oddsmakers beats anyone else in the world, and it’s not close.
However, as far as political markets go, that may not be the case. As mentioned above, there is a lot of money being wagered on elections these days, but the efficiency of political markets is still debatable.
Some claim that the markets are mostly efficient, particularly the top bookmakers, and that worldwide betting markets are more accurate than polls. In contrast, others see hidden value in polling data that may be more accurate in predicting the margin of victory.
It’s tough to trust numbers reported by the media, or coverage given to particular candidates because often the media has their own agenda. Also, polls differ depending on how they are calculated.
Nevertheless, there’s a simple solution here for those who want to bet these markets: consider all factors. Several sites are dedicated to political markets, which are excellent resources.
Betting Tip #3Don’t Bet Too Early In The Race
When to bet isn’t usually a topic that we discuss much when it comes to betting sports. Next day odds for baseball, basketball and hockey odds are up in the late evening or early morning. Football is the one sport that is spread out over a week.
There are intricacies to betting each sport, but for the most part, the goal for bettors in most markets is simply line shopping and beating the closing line. Political betting is a bit different.
Sportsbooks post odds for elections way in advance. Odds begin appearing several years before the election at some bookmakers.
Compare this to futures for major sports, which are, at most, posted a year in advance. Why do they post odds on elections so early?
Well, for one, no bookmaker is going to be unhappy about someone placing a bet two years in advance. Secondly, it gives the industry publicity, and if other sportsbooks have the market, then they enticed to match their competitors.
There is certainly merit to placing a bet far in advance on political markets if you believe that the odds will change in your favor as election day approaches. Nevertheless, the vast majority of the time, it’s better to wait until closer to election day to place your bet.
As we get close to election day, things become clearer, and there is still value at the betting window. Front-runners will often change in the years leading up to the election. Typically, the value comes towards the end of the race for gamblers.
Political Prediction Market – PredictIt.org Review
PredictIt is a prediction market that has its roots in New Zealand. They provide a prediction exchange on both political and financial markets.
The company, surprisingly, is owned by a University, the Victoria University of Wellington. They also have an office in Washington. D.C. PredictIt began operating in November 2014 and has grown in popularity since then.
PredictIt operates similarly to a betting exchange, except they use a double-auction to sell shares. This means that for every prediction that will take place, there must be another person matching the wager or predicting the event will not happen.
PredictIt isn’t classified as illegal gambling, either in their home country of New Zealand or in the United States. To secure this distinction, each question (betting market) is limited to 5,000 traders (bettors) and an $850 maximum investment (bet) on each question.
PredictIt.org In The US
We’re happy that PredictIt can operate in the United States without legal issues. However, they aren’t licensed by any state.
Despite not being licensed in Nevada and Washington, they still welcome anyone from those states. They do accept anyone from within the United States, as they have traders in all 50 states.
We highlight PredictIt as an alternative for sports bettors in the USA, or as a complement to online sportsbooks. The site is an excellent alternative or complement to online political betting markets.
It’s important to keep in mind that PredictIt acts within a grey area; similar to offshore sportsbooks. The site seems to do things by the book, as they have operated successfully under a no-action letter from the CFTC. Everything has been going well since they were approved to operate by the CFTC in October 2014.
It is also worth keeping in mind that PredictIt doesn’t have an efficient market. This is due to the fact that their odds are set by the traders or other sports bettors. It’s not going to be as accurate as foreign bookmakers or betting exchanges like BetFair, a renowned brand, whose odds are set by the oddsmakers themselves.
It is still an excellent site for trading (betting) on elections and other political events for American residents.
Blogs and Resources On Political Betting
- ElectionBettingOdds.com uses Betfair (world’s largest betting exchange) for odds on American elections. Their predictions are updated every five minutes, and they have odds for both party nominations, in addition to the presidency. The odds are also available, for state primaries.
- PoliticalBetting.com calls themselves “the best online resource for betting on politics”, and they might be right. The site centers around British politics, but covers everything under the sun, including American elections. There is new content daily, and lively discussion on just about every post in the comment section. This is a must-read publication if you’re seriously interested in betting politics.
- PoliticalGambler.com is run by British journalist and professional gambler, Paul Motty. He’s also a columnist for Politco.com and analyst for Betfair on political markets. He’s one of the best minds in the business. Even though he’s British, he knows U.S. politics better than most American pundits.
Political Betting FAQ
Yes, betting on the presidential election is available at just about every online betting sites. There are a variety of bets you can place on the elections, and placing a bet on which candidate will win is a simple process.
Props in political betting are basically any market isn’t wagering on the outright winner of the election.
A candidate winning the popular vote, wagering on which candidate will win a specific state, or who the winner might thank first in their victory speech would all fall under the prop betting category.
As an individual, yes. State-licensed sportsbooks do not offer wagers on politics, but that’s one of the most significant advantages of using online betting sites. They have a massive amount of markets for political and election betting.
The process is the same as placing a wager on a sporting event. You simply locate political or election betting markets, add the wager to your bet slip, choose the amount you want to bet, and then place your political bet.