Elections, a nightmare for some people but a very pleasant time for the favorites. It is also quite an exciting time for the punters. Wait, what? Yes, every time there is an election, especially presidential elections, the sportsbooks get a lot of profit out of them. Another interesting type of betting – betting on reality TV can easily teach you how to bet on Britain’s Got Talent and win! You can also bet on who will win the elections. How does one bet on elections, actually?
Betting on Elections – This Candidate or That Candidate?
When you hear that there are presidential elections coming in a couple of years, you should know that the bookmakers are already judging the situation and preparing the odds. They are gathering data and crunching it, listening to the masses, social media and broadcasts, to find out who is the favorite.
Once they establish one or two favorites, hopefully two of them, they get the smallest quotas, as they are the most likely to win, and the others get large quotas. For example, for the presidential elections of 2020 in the United States, Donald Trump and Bernie Sanders have a quota of 2.25 for Trump and 6.50 for Sanders, to win the elections. The next two have quotas of 11, which is a lot more. But that is not the only thing you can bet on, not just the winners of who gets to be president.
Betting on the Winner of a Party
Both the Republicans and the Democrats will have their own winner despite somebody eventually becoming the next president of the United States. That goes for other elections in the world, as well. You can bet on who will be the next party leader, provided that there are sportsbooks which allow you to bet on that.
There are plenty of general elections going on in the world in a lot of countries. At the moment, there are a couple in Europe and the quotas are anything from 2 to 25. If you know the politics in that country, and are paying attention, then you can probably make a nice dollar by betting on time, while the quotas are sufficient. Even a quota of 2 could mean doubling your money’s worth, not to mention a 10 or 25.
Betting on Federal Laws and Local Laws
When a law is about to be changed, for example, Britain’s famous BREXIT, then sportsbooks are getting a lot out of that. There is nothing like an old law being changed potentially to earn sportsbooks lots of money, other than presidential elections.
Betting on local laws, on the other hand, is more likely to be possible in local sportsbooks, for example, municipal laws and those related to a smaller territory.
Betting on the elections is possible and as easy as betting on anything else, you just pick your winner and you’re good to go. The quota system is the same as always, either a decimal or a fractional one and many sites give you a choice of each, should you be unable to understand one of them.