Americans have been betting on the election since the very first one where George Washington became president in 1788-99. Before mainstream sports, election betting was the best way for bettors to place wagers on a competition. Even though data polls today give citizens an idea of the probable results, nothing is certain in elections until the ballots are counted.
This year, the incumbent Republican President Donald Trump will face off against former Vice President Joe Biden, who is representing the Democratic Party. The country is truly divided on who they think should be the next leader of the United States.
This has been said to be the most significant election in American history, and whether this is true or not, there are a massive number of bets that can be made for this year’s election. Here’s what you need to know for successful election betting!
How To Bet on the Presidential Election
The online betting possibilities for the 2020 election are endless. The two candidates make for some fun prop bets, and different polls make everyone question who will win in different battleground states. Let’s take a look at some of the best ways to make money during the election.
The Overall Winner
The overall winner is the most traditional bet that you can make on the election. These odds are constantly changing every day, depending on what happens in the news. Here are the moneyline odds according to BetOnline for the overall election winner between President Trump and Vice President Biden.
- Trump +120
- Biden -160
At one point, President Trump was a massive underdog, but he has been creeping back up to Biden in the odds as we approach the election.
Props and Futures
Props and futures betting makes the election so much fun for bettors and even non-bettors. The candidates this year have made for some pretty interesting bet creations from all sportsbooks.
To give you an idea, there’s a prop bet circulating asking bettors if they believe President Trump will be kicked off Twitter by the new year. There has never been a presidential election prop bet like that in American history!
New prop bets are added every day, but here are a few examples of what’s available right now.
Will Donald Trump or Joe Biden win the popular vote?
- Trump +440
- Biden -750
What percent of registered voters will show up for the 2020 election?
- Over 60.5% -145
- Under 60.5% +115
Odds to be Democratic Candidate for 2024 Presidential Election
- Alexandria Ocasio-Cortez +350
- Joe Biden +300
- Kamala Harris +350
- Elizabeth Warren +800
- Bernie Sanders +800
Betting Tips and How to Find the Right Sportsbook
The presidential election is a tough event to successfully bet on, so you need to be knowledgeable about what’s going on in the country. It’s obvious that different news sites appeal to different political ideologies. Depending on the media you consume, you may believe one candidate will win in a landslide over the other.
For example, CNN, which appeals to the left, will share a story differently than Fox News, which fairs to the right. Keep this in mind when locking in a wager. It’s best to either consume both sides or find media that stays neutral when discussing the election.
This can be hard to do, but the bottom line is not to be swayed by a political party into thinking their candidate is going to win with ease.
When looking for a sportsbook, make sure to choose one with a lot of prop betting options. This gives you the best chance to win, but it also makes election betting much more fun. If you laugh at a prop bet, that means you’ve found a great fit for a sportsbook.
Good luck on Election Day!