With politics all the range nowadays, betting is an issue that has perhaps been kept on the back burner but which offers a host of opportunities to make good money. Of course, one has to have a clear and good understanding of the political scene in different countries. A good test case was the Italian election which occurred recently and which definitely provided considerable opportunities to hedge one’s bets espectally with the quirky results.
Political betting is slowly but surely gaining a foothold in the betting world. This growing industry is becoming an increasingly competitive battleground as gambling sites, who at one point treated this kind of betting as somewhat of a novelty, have started to take this area of their business very seriously.
Below you’ll find an overview of the different types of bets on offer in the political arena, including presidential betting in the US and the betting that goes on in British and worldwide political markets. You’ll also be given advice on what to look for when signing up to a sportsbook for your political betting.
Political Betting – US Presidential Betting
Definitely one of the most popular political bets to make is on which potential candidate will be named the next President of the United States of America. At any point in the four year cycle of presidency, you’ll be able to place a bet on who the next President will be, regardless of whether the current President has just made his inauguration speech, or whether we are in the middle of the full blown circus in the weeks leading up to the next election.
In the early part of the four year cycle, many candidate names will be offered by the sportsbooks. However, as you move closer to the election, these names are whittled down, and soon all that’s left are the lead Republican and Democratic Party candidates. If one studies their strengths and weaknesses with voters, one could come up with a good strategy to be successful in the final betting.
Political betting is not only reserved for the final presidential elections. Wagers can be placed on many elements that make up the political market, ranging from which individuals will be named Republican or Democratic candidates, to the more general outcome of which political party you think will wind up in office. The latter bet can even be made before the parties have announced their candidate of choice. In the period leading up to the presidential election, you can also place bets on each individual State, predicting which party will take control. Understanding battleground states and the way they might swing is quite crucial in this regard.
Betting is also made available on important political titles, such as which who will be the next mayor of New York or which party the next mayor of New York will represent.
US midterm elections are also commonly featured, allowing bettors to place wagers on which party they think will take control of the Senate or the House of Representatives.
The President’s approval rating is another popular area to bet on, with sportsbooks assigning prices to the various ranges of potential percentage ratings.
Political Betting – British and Worldwide Political Betting
The British political scene is the next biggest area of political betting after US politics. Betting on the next Prime Minister; which party will win the most votes; the next Labour Party Leader; the next Conservative Leader; or whether or not there will be an overall Majority (and if so by whom) at the next election are all extremely popular wager types. Betting on the next London Mayor is also very popular, as well as betting on each and every by-election.
Every time there is a political event in any part of the world, you can rest assured that sportsbooks will post odds on them. Regardless of whether you’re wondering what the name of the next Prime Minister of Australia will be, which party will have the lion’s share of the votes in the Swedish election or what the date of the next Italian election will be, you’ll be able to put your money down on potential outcomes.
Political Betting – Choosing the Right Sportsbook
Many sportsbooks offer political betting, however some will have a wider range of betting options available than others. When choosing a sportsbook to sign up to, be sure to look at whether the one you’re interested in caters to your wagering needs. If the site has a wide enough range of betting options, is the pricing competitive? There are many odds comparison sites where you can look at a particular event and see all of the available prices. Some sportsbooks’ prices may be more conservative than others due to their expertise being concentrated in the sporting arena as opposed to the political arena.
Another thing to consider when choosing a sportsbook is the website’s overall reputation. You might find that the best price on the next President comes from an unknown sportsbook. Before committing to them, be sure to check out their credentials by looking at various review sites. You should also ask questions in forums or on message boards before depositing any money. If in doubt, use a sportsbook you or your friends have used before, or one that has been around for a long time.
Conclusion
With so many political betting markets now being offered, there has never been a better time to exercise your expertise in this area. With more competitive markets and sportsbooks getting involved in this area of betting, be sure to do your research. Not only will it encourage you to take your civic responsibilities more seriously, but it’ll make these duties so much more exciting.