A good number of the world populace is conversant with Sports betting. In fact, it has been regarded as the new normal amongst youths in some climes. However, Outside of sports betting, politics is one of the most popular areas to bet on. There is a growing interest in political betting and current affairs and that is reflected in the large range of markets available to bet on.
This article will help to enlighten you on what political betting entails by reflecting on interesting facts about the concept, though without prejudice to the odds encountered in its practice. To start with, the most common political betting markets are based on American and UK politics like the US Presidential Elections and Brexit. If there is a particularly interesting political race that is grabbing worldwide attention then you can usually get odds on that too, for example the Brazilian Presidential Election in 2019. Occasionally bookmakers will offer some more obscure markets like party seats, by-elections or local elections.
About political betting
Political betting can be a simple task. Punters typically stick to wagering on the government they live under but don’t think players outside of the UK and US aren’t capitalizing on those lucrative political betting markets too. When an political elections approach, the most popular markets typically revolve around the country’s leader like the next Prime Minister market in the UK or the US’ equivalent, the next President market.
These are, of course, most relevant to the UK and US markets, and therefore generate the most interest on those shores when it comes to the best political betting sites. Fortunately, there are, though, many more options available to you, especially when an attention-grabbing political event from a lesser known jurisdiction is on the horizon.
A smaller country holding an exciting election that grabs the world media’s attention can push bookmakers to release odds despite the markets original appeal. Depending on the bookie, punters can also occasionally delve deep into the more obscure political markets like total US states won by a political party or can stay broad with outright votes on party leaders
Political betting and Sports betting – The contrast
One significant fact about political betting is that it makes the results a whole lot more interesting, against all odds. There are a number of differences between sports betting and political betting that you need to look out for. Firstly, you should know that bookmakers often place their political markets under the ‘Specials’ tab on their website.
Note also, the following :
- Political betting bears a whole lot of risk as contenders credibility can not always. be relied upon: it can change very quickly, especially in the run-up to the event.Political candidates have been known to make embarrassing mistakes in newspaper interviews or TV appearances and their credibility can be wiped away. Be aware that a once promising bet can quickly be made hopeless.
- There is less chance of an upset (usually!) in political betting. Public consensus and media opinion influence the markets and they are rarely wrong. It would be rare to see anyone outside the first two or three options in the market winning.
- Political issues are usually surrounded with so much public interest that the winning result/candidate is often known before the result is announced and the bookmakers price their markets accordingly. Although political election betting does not reap much of a reward, unless the result is really up in the air.
As we have mentioned earlier, the focus of political betting has been on United States (US) and United Kingdom (UK) politics .You will more than likely find Irish politics included too. Outside of that then there will be more obscure markets available depending on the relevance of the political event. A good example of this would be this the French Presidential Election market being offered by Ladbrokes.
Some of the most popular political betting markets and the government/country that they are offered in is outlined below:
• Betting Market – Country of Government
• Next President – United States of America
• Next Prime Minister – United Kingdom
• Winning Political Party – United States of America
• Party with most seats after next General Election – Ireland
• Brexit Referendum to be held by the end of 2019 – United Kingdom
Many of JWBetting.com’s partner bookmakers have a large range of UK political markets to choose from. This ranges from markets on the next Labour leader, the next Conservative Party leader, the next Speaker of the House to things like the EU Parliamentary Elections and Constituency By-elections.
The markets have expanded for US politics too. Up until recently the only available markets were on the Presidential Election. Today, you can place bets on both the Democratic and Republican Primaries, nominations, winning parties and vice-Presidential candidates. If you’re interested in American politics then there is a plethora of markets to explore.
As already mentioned, you can now also find markets on a host of other political markets including elections in countries like Ireland, France, Germany, Spain, Australia and Brazil. These mainly revolve around general elections or party leaders.
Political betting is marked for its uniqueness, in that it gives room for the winning of the favorite – The favorite almost always wins. The bookmakers prices are influenced by media and well documented research so they are rarely wrong when it comes to political punting. Short odds aren’t that attractive to casual punters. As a bettor you have two options in this case. You can bet big on short odd bets (e.g. Jeremy Corbyn was 1/7 not to succeed Theresa May with Coral, he is now 5/2 to succeed Boris Johnson as PM) or steer clear altogether.
Close-knit Political races
In cases of tight political races just like David Cameron vs Gordon Brown vs Nick Clegg, the Brexit Referendum, John Kerry vs George Bush, the result was up for debate until the last vote was counted. It is also in these situations that the most money can be made from political betting.
It’s also particularly exciting if you have an interest in politics. You can bet on your favourite party or candidate and then still stand a chance of earning some cool cash.
Just before betting
It is quite advisable that not to go overboard while placing a bet on a political event. By way of analysis, take into consideration all possibilities, without prejudice to the influence of public sentiment on the outcome. It can also be very beneficial to research the political landscape of the offered markets. Obviously if you’re interested in politics you may do this in due course. The advantage of this is to spot political trends which can influence how the country will vote in upcoming elections.
In recent years we have seen both Emmanuel Macron and Donald Trump winning the French and US Presidential Elections respectively. They moved from rank outsiders to short-priced favourites in the year leading up to their respective elections. A well-timed bet on either of these men would have returned a large dividend. This ,of course, would be consequent upon serious and accurate research.
The process is not nearly as intimidating as all the numbers and symbols make it appear, even if you have never placed a bet befor and if politics is something that you are already interested in, you may find political betting to be an exciting (and potentially lucrative) way to put all that prowess and knowledge to work.
It is good to note that while politics are a part of our everyday life, generally speaking, sportsbooks won’t offer many betting lines until an electoral campaign has, or is about to, begin. That being said, you may find yourself coming across the odd Donald Trump prop bet here or there, considering how frequently the President finds himself in the news.
Keep in mind that while the technical side of betting may not differ much from sports to entertainment, to the political, the information behind each bet will. Informed wagers are the best kind of wagers, so do your research before putting any money on the line. Whether you decide to participate in prediction markets or go online to find some interesting prop bets, look into your options and remember to use your head, not just your heart.