Politics might not be your particular passion but betting on politics can be very profitable. As an upcoming election looms, one wrong move here or there for a leading candidate can have a huge impact on the polls and turn a sure-fire victory to an embarrassing defeat. For this reason alone, politics betting provides a dimension like few other markets. It’s never over until it’s over.
The Canadian election is held once every four years and sees citizens of the country vote for their next Prime Minister. Canada’s political history has seen it dominated by the two major parties: the Liberals and the Conservatives. 1917 saw the only election where a third party was elected as the Unionist Party got into power. Over the past three decades, Bloc Quebecois and the New Democrats have tussled over being the third biggest party.
Political betting is popular within the country. People may not frequent the politics markets like they do with sports, but as and when major political events occur across the globe, more and more bettors look to politics as a way of making a profit. Although the outcomes may seem straight forward, there are innovative and fun ways to bet on politics from particular seats to overall winners. In the next section we’ll take a brief look into the betting types available.
Simply betting on a specific outcome. Whether that be a yes or no, or a win/lose format. For example, Liberals win or Conservative win.
Futures markets allow you to bet on an outcome that you think may happen in the future. These bets can be made weeks, months, or even years in advance.
Prop bets are similar to futures, however, rather than betting on a particular event happening to a party, it instead focuses on the individual. There are a whole range of inventive prop bet markets that range in likelihood and comedic value.
Over/Under markets focus on the numbers involved in elections. You’re betting on whether you think the margin of victory, or another specifically measurable event, will be over or under an amount specified by the bookmaker. For example, you could vote on a presidential candidate getting more or less than 270 electoral votes.
Point spread allows you to predict an outcome within a range. For example, you could say that the Democratic nominee will win 50% of states electoral votes, give or take 1%, and as long as the eventual outcome falls within your margin, you win your bet.
Huge political events occur across the globe all the time, some are worthy of betting markets and others aren’t. In this guide we are going to look at some of the recurring pivotal political events that you should be aware of.
The US Election sees US citizens vote for members of the Electoral College. These electors then cast votes, known as electoral votes for the roles of President and Vice-President of the United States. The vote is held every four years on Election Day, the first Tuesday after the first Monday in November. The two major political parties in US politics are the Republicans who position themselves as centre-right to right wing, and the Democrats who sit centre to centre-left.
Elections in Canada are set on a fixed date so that they occur more regularly, usually once every four years. There are three major Canadian political parties that tussle for government with the overall winner’s leader becoming the Prime Minister. The two major parties consist of the Liberal Party of Canada who are positioned centre to centre-left, and the Conservative Party of Canada who are positioned centre-right to right-wing. There is then a battle for the third biggest party between the New Democratic Party who are sat centre-left to left-wing and Bloc Quebecois who also position themselves centre-left.
As well as betting on events closer to home, you will also be able to seek out markets for political events further afield such as in Europe. Most of the major bookmakers will offer odds on elections in countries such as the UK, Spain, Germany, France, and Italy. Whilst there will also be odds on specialist cases such as the next country to leave the EU and other relevant topics.
Some people may see betting on politics as ‘the toss of a coin’, however, it’s much more than that and insight and analysis can be done to help determine the outcome of an event. Let’s take a look at some of the key things you should keep an eye out for when betting on politics.
Keeping up to date with all the latest goings on is absolutely crucial when it comes to betting on politics. Whether you source your news from a newspaper, online media or television coverage, always make sure you view opinions and pieces from several different publications to ensure you get a rounded view that is free from any bias. How one television network covers an event may differ hugely from a rival network, this is because a lot of media outlets have a particular political persuasion that they will try to reinforce. One policy or one poor public outing can have a dramatic impact on the public opinion, so it’s crucial that you know what has been happening in the political sphere before placing your bets.
We understand that most people have a political opinion one way or the other. It’s perfectly natural to feel emotive about certain policies or individuals and want them to succeed. However, it’s always best placed to leave these emotions out of any betting decision you make. We would always advise to not bet on candidates you love or candidates you hate. Your judgement will not be as sound as it usually is, and it could cost you money.
In the modern world there are many ways to decipher how an election may play out. There is a vast amount of data for you to look through, from opinion polls and surveys to geographical voting patterns. Of course, this data can change as politicians announce policies or embarrass themselves in debate. It also doesn’t tell the full picture as it isn’t a national poll featuring every individual who will vote, however, betting using data is more sensible than betting on gut instinct.
Betway are one of the world’s leading online bookmakers and as such have used their experience to have a wealth of political betting markets for you to utilize. Covering all the major political events, they offer great value odds as well as promotional offers and bonuses as anticipation starts to escalate. Betway are renowned for their fantastic customer service and provide 24/7 customer care by phone, email, or live chat. They are also one of the most versatile bookmakers when it comes to payment methods, accepting all major debit/credit cards as well as services like Skrill, Neteller, PayPal, and many others.
10Bet have developed a great reputation over the last two decades in which they have become a specialist in online betting. They provide a dynamic and fluid interface experience as well as a standalone mobile app for you to use, so whether you’re betting on a mobile phone, tablet or desktop, your experience will be seamless. There is 24/7 customer service and no fees when it comes to depositing or withdrawing your funds. Whether you are a new or existing customer, keep your eyes peeled for the fantastic promotions that are continually on offer at 10Bet.
888 Sport has grown to become one of the most popular online betting sites for sports and politics. Their easy-to-use website makes navigating different markets a breeze, so you don't have to waste time trying to find the right politics market for you. Not only do they provide a great range of offers, 888 Sports odds are extremely competitive and are always worth assessing for that alone. They are committed to providing a safe and secure environment for you to bet on and we highly recommend them because of that and the other reasons above.
Markets for specific political events usually open as they are announced, or at least once the political parties have determined who will be their front running candidate. On the global scene, you usually should be able to find a political event to bet on.
Some bookmakers will offer you the option of a cash out on your bet. It’s always worth checking the terms and conditions of the company in question before betting, so you know where you stand in terms of the betting tools available.
More than likely, yes. Check the terms and conditions of your promotional offer before you try and place a bet, but most incentives and offers will be usable on the political betting markets found at the top online bookmakers.