Political Betting: Just When You Thought You Got The Hang Of It

You may not be much of a politically minded person nor care about US Senator Bernie Sanders stumbling for words or President Donald Trump delivering the latest round of ill-considered statements. As irony would have it, politics has long served a niche audience and humorously enough, political betting may share a similar fate. Well, almost. Whether you have been outraged by the proclivity of some politicians to misappropriate taxpayer spending or just find the prospect of Michael Flynn ending up in jail over treason strangely titillating, there seems to be a mounting interest for political betting.
Perhaps more worryingly would be a future where wagering on the outcome of elections surpasses the actual engagement of the average individual with the subject matter. Doomsday-mongering aside, the intricate landscape of politics has rubbed off on the nascent betting industry pivoted around it. What the future may hold is more a matter of the convergence of multiple factors than the tantrums of a leader unfit to serve. On the other hand, those could be quite amusing to behold.

Of Plump Choice And The Political Betting Market

Try appealing to the all-potent Google and you are washed ashore the initial stages of a journey with no clear destination in end. Political betting markets are elusive and not as many, a first glance suggests. The odds mostly ricochet between both sides of the Atlantic with the United State and the United Kingdom usually making headlines. Notably, even the dry humor of bookies has not prompted them to wager on the end of the world embodied in the belligerence of the incumbent North Korean leader.
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But as you familiarize yourself with the political betting market out there and the names of the candidates sound more familiar as days go by, understanding eventually dawns on you. The focal point of all political betting seems to be the US Presidential Election along with the US Congressional Election. With an imminent Brexit, odds are churning ever faster. British Prime Minister Theresa May’s reluctance to hammer out a border deal has sent jitters across bookmakers, let alone Northern Ireland and the European Union. Niche contests such as the outcome of the London Mayoral election have also excited punters who wagered heavily on the election of Sadiq Khan back in 2016. And let us face it, not all of us live in presidential republics, so wagers on who the next Prime Minister would be are just as tantalizing.

Who Is Who At Political Betting Sites

Before you try to introduce some semblance of meaning in the melting pot of politics, you will need to familiarize yourselves with the ins and outs of the whole process. The very idea sounds like a grueling and painfully humdrum undertaking – to an extent it is. Luckily for you punters, there are a series of late-night shows that highlight what has transpired throughout the day in a rather satirical and entertaining way. Before long, you will catch wind of current events and the names of main contenders will be lodged in your memory. We would still warn against pinning all your hopes on those shows and consulting odds analysts instead. For instance, a late-night show will ultimately be ideologically tinged. And while the point a host may be articulating could be well-considered, it would not necessarily be shared by the majority of voters. After all, odds are thrashed out based on general consensus.
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The Whimsical Side of Political Betting

The current landscape for political betting has its whimsical side. Well, in any event it has its whimsical POTUS. The idiosyncrasies of President Trump have led to some rather wacky portents: ‘Will Trump resign or is impeachment more likely?’ ‘When will Trump no longer be President?’ ‘The United States will withdraw from the United Nations.’ As you go through the list they get barmier: ‘Will Trump and Rocket Man ever make up?’ ‘Trump to add his own face to Mount Rushmore in 2017.’
The nature of the wagers varies from the plausibly unpalatable to the downright insane. But political betting today comes to exemplify something quite characteristic of punters – for a whole lot of us, excitement, as it is, trumps reason. We seek to add an extra layer of fun towards our betting experience. Even more – we seek to spice things up by putting money on the line.

Put Your Money On Me

This is bound to be a short account. Political betting not being a behemoth the likes of sports betting, the types of bets have not been quite spruced up. You will get your straight up bets, handicap bets and prop bets. A little elaboration where elaboration is due:

  • The straight up bet is your most common wager. Punters throw money on who wins an election or vote.
  • Handicap bets next, you will wager on the margin by which the successful candidate will win. This does not sound as implausible as you may imagine. If you believe that a candidate is going to score a win with a 10% margin, then any victory with margin 10% or higher will translate in you clinching the handicap bet.
  • Lastly, there are the prop bets, which ask of you to name the likely runners for an election, i.e. Donald Trump and Hillary Clinton in the 2016 US Presidential Elections.

The nature of this type of wagering forces most political betting sites to pilot their offers carefully. The segment may not gain an overwhelming traction, so bookies have their bets set up years in advance, unlike sports betting where the earliest you get to bet on an event is one year ahead. Other things you may want to take into consideration when plunking down a wager on politics:
Politics are seldom complicated when it comes down to the final showdown. You will notice that potential yields are rather limited as there is want of feasible contenders or the public opinion is set to back a known figure.
In close races, we have come to witness that the fortunes of politicians may change quite drastically in the final days to the election. Scandals about a candidate or mild controversy can put a damper on a promising contender’s aspiration to win an election. Take for example Donald Trump and Hillary Clinton’s face off. 
Lastly, it is always worth hedging against adversity by spreading your risk. Political betting will not account for much of the betting you do, unless you do the whole thing for craic alone and are determined to only flick wagers at how the fates of politicians turn out. In any event, you may want to read the minutiae known as wagering requirements. Spread your risk by opening accounts with noteworthy bookies and pick the best odds. The rest is, as they say, history. Or will be, at least.

Political Betting Done Right

Political betting is an untapped market. What future it takes depends on how much of dab hands bookies will turn out to be in hammering out decent odds, offering bonuses and creating a betting climate which can accommodate for both operator and punter alike. Meanwhile a pesky aspect is that politics is tinged with ideologies. Broach the topic and an amiable discussion turns sour. Political betting on the other hand seems to operate on its own rules. There is no enmity between punters because of ideologies, just the joint-effort of bettors who repeatedly ask themselves “What are the odds?”

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