Political betting has become increasingly popular in recent years, with betting customers moving away from traditional sports betting and instead going for political markets such as UK General Election, Next President of the USA and Brexit.
Bookmakers used to create political betting markets as a novelty, although operators now report that they accept thousands of bets when there’s a significant political event taking place, with millions of pounds traded on various outcomes.
Most bookies offer a wide range of political bets for their customers and there is lots of choice, especially when it comes to UK politics. You can bet on the outcome of the Next General Election, along with Next Conservative Party Leader, Next Labour Party Leader and Next Prime Minister.
When a General Election is about to take place, then customers can bet on several different betting markets. This can include the number of seats that each political party will win, whether there will be an overall majority and the margin of victory. The list is nearly endless.
How to Bet on Politics
At Odds1X2, you can see that there are a wide range of political bets that can be placed. Irrespective of whether there’s an imminent General Election taking place in the UK, you will still be able to bet on which political party will win a General Election, with the Conservative Party and Labour Party largely making it a two-horse race.
What we do is provide customers with the chance to compare the latest political markets, whether they’re created for the UK, the USA, Europe or further afield. The bookies often disagree when it comes to their latest betting markets which can mean it’s worth comparing the latest prices to get the best value odds.
Sometimes the difference in political betting can be quite large. You might be able to back the Labour Party to win the next General Election at odds of 6/4 or 2/1 depending on which bookmaker you choose. Obviously, it pays to always secure the biggest price as the potential return is much greater.
In addition to elections and leaders, customers can also bet on things like the Budget where the Chancellor will announce certain things as part of his annual price increases. You can even bet on things like what words will be said as part of the overall speech or what colour tie he or she will be wearing.
How Do Customers Win Money from Political Betting?
Betting customers look to make a profit from these type of political markets in the same way that they would do from a sporting event. So it’s a case of deciding on a stake for a particular market and taking odds for that particular selection.
Should your bet win, then a bookmaker will return you the profit along with your original stake. Many people who follow politics on a regular basis enjoy placing bets as they feel as though they have an advantage due to the knowledge that they might have acquired over time.
Sometimes a customer will win from placing political bets by looking at the latest polls that are often created by companies. That allows them to check the latest opinion, although they are not always accurate and you should always bet according to your own opinion rather than someone else.
How Much Can I Bet on Politics?
Political betting markets are often volatile and constantly changing in terms of price. Therefore, bookmakers are reluctant to allow customers to bet large amounts on a particular outcome, especially as events are clearly privy to inside information.
It might be that a bookmaker restricts your stake when it comes to placing political bets. You can often check on the maximum stake allowed, so don’t go depositing a large amount of money to place a bet only to find that a small percentage of it will be accepted.
Political betting odds can change frequently although there is sometimes a Cash Out value when you make political bets on UK or US Elections. This can sometimes mean you making a profit before the market has even been settled.