As the name suggests, politics betting involves predicting the outcome of major political contests like the UK General Election, US Presidential Elections, and more.
But bookies don’t just make political betting odds for primary elections. Bettors can also get markets such as who runs for what office, debate participants, debate duration, and more. In short, there are a plethora of political betting markets to exploit.
Meanwhile, it’s conventional wisdom that political betting is a relatively recent invention. But the truth is that political betting has a rich history, especially in Western countries.
It traces its roots back to the 16th century in Italy and the 18th century in the UK. In the US, political betting was so prevalent in the pre-1860 period. By 1960, bookies in Nevada were taking big bets on the upcoming US Presidential Election. See, political gambling is nothing new.
Is election betting legal?
Yes, betting on political indictments is 100% legal. However, it’s vital to place bets on reputable bookies like the ones listed here. In the US, for example, over 20 states have legalized sports betting, making political bets absolutely legal in these areas.
It’s even better in Europe, where most countries have recently revisited their betting laws to include online sports betting. Overall, betting on any opportunity is legal, depending on where the player comes from.
But what happens if betting is illegal in a country? Don’t worry; bettors in such jurisdictions can still place bets at the best offshore bookies.
These international bookies accept foreign players, provided they pass the KYC (Know Your Customer) process. Also, the best international bookies are licensed and regulated by respectable bodies like the UK Gambling Commission (UKGC), Malta Gaming Authority (MGA), and the Swedish Gambling Authority.