Betting on politics can be incredibly fun. It can also be profitable if you know what you are doing. So if you are the type of person who reads the news several times per day and follows all the politicians in your country on Twitter, you might be able to earn a lot of cash.
The 2020 US Presidential election broke all records for political betting. We truly expect bookmakers to focus more on politics in the years to come, which means you can bet on various outcomes within many different democratic nations.
Let’s look at some general strategies for betting on politics, and – of course – review the best sportsbooks for this purpose.
Best betting sites for politics
There are many betting sites that allow you to bet on politics. However, not all of them are good. Ideally, you will want to use a bookmaker or an exchange with a large variety of events and props. And of course, it’s also important that the odds are very competitive.
After researching the entire market, we have found 4 very good betting sites for politics that you can consider using:
Betfair is the world’s most popular betting exchange. That means you will be betting against other players rather than against the book itself. You can lay and back various outcomes against the market, and Betfair then charges a commission – which varies from country to country.
There is a “Politics” category, and here you can bet on elections from the United States, the United Kingdom, the European Union, France, and Australia.
When there is a presidential election in the US, you can even bet on the winner in various states, along with many fun props. There are also some interesting markets related to the EU. For example, you can bet on the next country to hold an EU in/out referendum (Brexit was the latest one).
In general, there is a lot of liquidity at the political markets on Betfair, so if you’re full of knowledge in this field, you should sign up and take advantage.
Sign up with Betfair here, or read our review to learn more.
Pinnacle is considered to be the best sportsbook in the world. It has consistently high odds and it offers great service to all customers.
If you are serious about your long-term betting, you must have Pinnacle in your bookmaker portfolio anyway, so it makes sense from several angles.
But when it comes to politics, Pinnacle is also a good option. It doesn’t have as many options as most other sites, but you will typically be able to bet on the largest events, such as US and UK elections. The odds will usually be among the highest on the market – this is what Pinnacle is famous for.
We highly recommend using Pinnacle as your main bookmaker. We hope it will add a bigger selection of political markets in the future, but in any case, it’s the best bookmaker from a general point of view.
Sign up with Pinnacle here, or read our review to learn more.
Bet365 is another sportsbook with a lot of markets in the category of politics.
It is mostly focused on US and UK politics, but you also find markets related to many smaller countries – so it is actually quite interesting.
The market limits are as high as with Pinnacle, but there is a risk of personal limits if you are consistently winning a lot of money. However, most users won’t encounter that in the beginning, so if there is one event you would really like to bet on, you can safely do it with Bet365.
Aside from politics, Bet365 has a huge amount of sports markets. It has become the most popular bookmaker in the world among regular players.
Sign up with Bet365 here, or read our review to learn more.
Cloudbet is in many ways reminiscent of Bet365. It is a super solid betting site with tonnes of options. The odds are high – often even higher than what Bet365 offers. And the limits are quite good as well. High market limits allow users to bet what they want, and personal limits are very, very rare.
The main difference between Cloudbet and all the other betting sites we have mentioned? Cloudbet is a cryptocurrency bookmaker, which means you bet with Bitcoin, Ethereum, and such currencies. This actually brings some huge benefits, like the ability to bet anonymously, and the lack of necessity for sharing any personal or sensitive information.
Cloudbet covers the US elections extremely well. You will also find betting markets related to British politics, and sometimes other countries as well.
Due to its high odds and great service, and due to the fact that you can bet anonymously, Cloudbet has become our favorite bookmaker on the market. So naturally, when it comes to betting on politics, it is also a sportsbook that we highly recommend to everyone.
Bet on politics in different countries
There are many markets within the category of politics.
Several countries have high-profile politicians and attract a lot of media interest.
Obviously, the US elections are almost always the most popular. The bookmakers will also offer several props related to US elections. For example, who wins the popular vote, who wins a particular state, and how many votes a certain candidate will receive.
But you can also bet on European politics with many bookmakers. British, German and French elections are also attracting interest from gamblers, and whenever there is an election in Europe – even in smaller countries like Denmark and the Netherlands – you will be able to bet on it.
Ultimately, you have to check the market and see if they accept bets on whichever election you are interested in.
How to beat the market
The key to winning in political betting is to have good knowledge and being able to spot value.
If you believe the Democratic candidate has a 60% chance of winning the next US election, and the odds are 2.00, then it’s a value bet. On the contrary, if the probability is only 45%, it will not be a value bet. So you need to estimate the chance of a particular outcome and put that up against the odds.
To learn more about the concept of value betting, read this article where we explain it all.
In fact, the principles of making a profit in political betting are just the same as when you bet on sports. It’s only the knowledge that is different. There is also a bigger bias in politics, which you should be aware of. Just like it isn’t very smart to place huge bets on your favorite football team for any reason other than you love them, you shouldn’t bet blindly on your favorite political candidates either. Sure, there could be value in your personal favorite, and in that case a bet would make sense. The point is this: Research and proper estimations are important!
Resources for predicting outcomes
In order to make proper estimations so you can predict political outcomes, you always need to look at some resources.
It can be polls, but polls are not always accurate. So that should only be one factor.
Following the news is also a good idea. It will give you a lot of knowledge about politics. But then again, there is a lot of fake news out there, and mainstream media has mostly become a propaganda tool, so it should also just be one factor. It’s good to follow the news to stay updated on current events, but when something important is going on, it is also important to dig deeper into it and find out what is right and wrong. In general, try to find the most reputable sources – no tv-channel or newspaper is perfect, but they can give you some surface knowledge.
When you bet on politics, we recommend that you check online forums and social media to see what the general opinions are about the candidates. Try to find information from both camps.
If you are betting on an election that takes place in your own country or state, then look around, talk to people and find out what the local sentiment is.
Is it legal to bet on politics?
Depends where you live – in some countries, betting is legal, and in others it is illegal. If sports betting is legal in your country, betting on politics will also be. There could be a gray area if you have been involved in politics yourself, just like how referees and players cannot bet on their own sporting events.
If you are not legally allowed to bet in your country, there are some ways around that. For example – by betting anonymously with cryptocurrencies.
Political betting has become very popular in recent years. Several bookmakers offer markets related to politics, and if you have some knowledge within this field, you can easily make a profit.
Betting sites such as Betfair, Pinnacle, Bet365 and Cloudbet generally have high odds for political markets, so they should be the go-to options when you want to bet on politics. Aside from that, follow the principles of value betting and money management when you place your bets. Be aware of biases, do your research, and enjoy the process!