A quick guide to political betting odds
For all the readers out there wondering why they should even be comparing odds, we will run through some of the crucial factors that could help in making your online betting career a success. When you compare the latest political betting odds, you are determining just how much you could be in store to win if your wager manages to succeed.
The odds can vary significantly from bookmaker to bookmaker and you might be missing out on some additional funds if you don’t take the time to shop around. Our team of experts here at Betting.net have scoured the globe to find the specifics of each bookmaker out there and put together this page comparing politics odds. If betting on politics is not exactly what you were looking for, head to our
sports betting odds
page to take a look at all the other options out there.
Online vs. offline – Choosing the best bookie for you
There are still plenty of punters out there who prefer to place their wager in a bookmaker outlet than online. There could be some in-store specials in your area, but for the most part, you are more likely to find more favourable odds online as you travel through the world of online sports betting. You will be able to find all the details of each bookmaker with just a click of a button. You can also find some online resources, such as ours, that compare all the odds and assemble them in one convenient place.
Betting in person is probably the more traditional approach, but to find the best politics odds, you will have to do your research before you can claim the best offer out there. This involves the online offers and the ones that are suitable to you in the local store outlets.
The history of betting odds in politics
Betting on political outcomes would probably be one of the most ancient markets that are available within the betting industry. There have been democratic votes for hundreds of years and where there is a difference in opinion, there is bound to be a wagering opportunity. Betting on politics is not too different from your conventional sports betting. Pack your bags as we head through the variety of odds that you may encounter on our journey.
Decimal odds explained
The most common of betting odds formats out there would definitely be the decimal odds system. It is a fairly simple system and to illustrate just how these odds work, we will be taking a look at the Trump vs. Biden race that took place in the United States. Say one bookmaker was offering odds of 2.3 on Trump to win the presidential election and also 1.2 on Biden to win. This would mean that if you placed a wager of $100 on Trump and he won, you would receive $130 on top of your initial wager to make $230, with the Biden bet, it would have been $20 to make $120. You simply multiply the decimal odd by your wager to determine your winnings.
Fractional odds explained
Fractional odds may seem familiar from your school days but you would want to take a different approach when it comes to political betting odds. With fractional odds, let’s say Trump at 4/1 and Biden at 3/2, you will receive $4 for every $1 you placed as a wager. If you bet on Biden, you would receive $3 for every $2 that you placed. This fractional odds system is a little more tricky to determine your expected winnings but most bookmakers offer an option to switch between the odds formats.
American odds explained
If you are based in the United States, most of your bookmakers will probably make use of the American odds system. This is completely different to the previous two systems and works with two values, one positive and one negative. Using the example of Trump vs. Biden again, one bookmaker may have Trump at -243 which means that you will need to wager $234 in order to win $100. The bookmaker may also offer Biden at +178 which would mean that your $100 wager could win $178 if Biden were to win.
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How are political betting odds calculated?
Once you have looked over the available markets and decided to book your ticket to the world of political betting, it is important to make sure that you understand exactly how the odds are calculated with each bookmaker and what you can expect to receive from the variety of offers out there. Each bookmaker will have their own methods and it’s important to take this into account when browsing through the latest political betting odds.
How to calculate the expected value
The expected value is a number that punters use to determine the quality of the odds on offer. It weighs up the winnings against the potential losses. If you are interested in calculating the expected value, you will need to multiply the amount won per bet by the probability of winning and minus the multiple of the amount you would lose multiplied by the probability of losing. Let’s say Trump vs. Biden has a 50/50 probability and that a bookmaker is offering odds of 2.2 on Biden and you have placed a $100 wager. The amount you could win would be $120, the amount you could lose would be $100. 120 multiplied by 0.5 (for the fifty percent probability) is 60. You will then minus the 100 multiplied by 0.5 which is 50. That gives you an expected value of 10. So you would be eligible to win $10 for each $100 wagered. If this value is negative, you are in store for some terrible odds on offer.
How are politics odds calculated
Political odds will be calculated differently from bookmaker to bookmaker. As we travel through the world of each online service provider, you will notice that the odds are certainly not the same everywhere and this is expected as each of them will have their own opinion regarding the event. For the most part, one bookmaker will side with one event taking place over another and the odds will reflect this. If you would like to take a look at other sporting odds out there, be sure to head to our F1 betting odds and
football betting odds
pages.
Political odds betting strategies – A choice of techniques
No matter what event you are betting on, you will need to have some sort of strategy in mind in order to increase your chances of placing a winning wager. While betting strategies aren’t guaranteed to secure you that one way ticket to big winnings, they are certainly helpful in increasing your chances. Our team of experts have put together these strategies that are used with the latest political betting odds.
Arb betting strategy
The arb betting strategy is a common one among followers of political betting. This strategy will only work when you have more than one service provider and each of them are offering different odds for the same event. If one bookmaker were to favour Trump in the presidential race, while another was favouring Biden, you could place an equal bet at each and be sure of one of the wagers succeeding. It is important to keep in mind that the odds will need to exceed the wager you are in place to win. If you placed a $10 wager at each, it is no use if your total winnings amount to anything less than the initial $10 you wagered.
Matched betting strategy
The matched betting strategy is slightly different to the arbitrage betting strategy but also fairly similar. With matched betting, you need to have an operator that offers back bets and a betting exchange that offers lay bets. This will allow you to place a wager on a certain outcome and to place another wager against the specific outcome. This can be very useful when betting on political events and if done correctly, you could be in store to claim some winnings with your online bookmaker.
The most popular markets in politics
While each country in the world will have their own political events, there are certain countries where the race is tighter and attracts more of a viewership than other destinations in the world. The American presidential election is one of the most tightly contested and followed political events in the world and attracts plenty of punters to put down a wager on the outcome. Other events may gain traction with the public, it is up to you to follow all the latest political news and find the best politics odds right here when you are ready to make a bet.
Political betting odds comparison – Quick facts before you bet
With all this information, most of you may have some questions before you pack your bags to begin your political betting career. Our experts have put together some questions that have frequently been raised to guide you along your journey.
Is your odds comparison service free of charge?
This comparison of the best politics odds is provided free of charge to any readers out there who are interested. The entire service here at Betting.net is aimed to help the online betting community to stay informed with the relevant betting markets and find out just which bookmakers are offering the best bonuses and services out there. All the information available here is provided free of charge and you will be able to put it all to use without even signing up. You can also find similar odds pages to this one on our
best UFC odds
and tennis betting odds pages. Be sure to check them out for all the latest information.
Why should I not bet with my standard bookie?
Depending on which bookmaker you have signed up with, you may not be receiving the best odds for the event that you are interested in. It is important that you browse through all the odds available on the market before you commit to putting money down on a certain outcome. You may increase your total winnings and you might even find some crucial information about the event when you are shopping around the world for the best deal.
Are there differences between online vs offline odds?
Once you have narrowed down the political events you would like to bet on, it is recommended that you browse through your local bookmaker odds that are provided in store and compare these to the widely available odds online. There may be some in-store specials that are in place but for the most part you won’t have to travel far to find the best odds online.
Now you’re ready to try political betting!
We have safely arrived at our final destination of having a comprehensive understanding of political odds and just why it is so important to keep up to date with all the latest offers out there. Each reader should now have a solid understanding of how odds are calculated and interpreted which will be an invaluable tool to have when you are placing a wager.
Just about anyone can use this comparison when shopping around for the best odds and our team of experts have put together all the information you will need in one convenient destination here at Betting.net.
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Political Betting Odds FAQ
🏆 Where can I find the best politics odds?
Finding the best odds should always be your main priority whenever you are placing an online wager. There is so much competition in the industry that each bookmaker is looking to outdo the next and this leads to a fairly big difference in the odds that are available. You will be able to find the full extent of each bookmaker offer right here at Betting.net and you can use our comparison page to take a look at what is currently available on the market.
🧮 How do they calculate political betting odds?
Political betting odds may seem strange to any punter out there but they are calculated quite similarly to sports betting odds and we run through the entire process here at Betting.net. If you are looking to place a wager, it is important to understand how the odds are calculated and exactly what they mean before you commit to putting your real money on the line. Our articles are free to anyone interested and we bring you the latest information.
📰 What are the latest political betting odds?
Whenever you place a bet, you will need to stay up to date with the event that you are wagering on. This will allow you to make an informed decision once the time comes to put down your money. There could be a key event that changes the tide of a political race and the only way to take this into consideration is by staying informed with all the events on the news. Be sure to find all the information you will need right here at Betting.net.
💼 Is it legal to bet on political events?
Once you have signed up for an online betting service, the first consideration you will need to make is whether or not the service is legal in your country. Each country’s laws differ significantly and bookmakers are able to offer their services just about anywhere in the world. It is up to you to double check that you are able to place wagers from where you are located and our informative articles can help guide you to finding the correct information. If you are ever in doubt, always seek legal advice.
🖊️ How can I sign up to bet on political events?
To place wagers on political events you will need to be signed up with an online bookmaker to find the latest political betting odds. Signing up can be quite a mission with some bookmakers out there and you may require some documents and specific details to open your account. Our reviews have all the information you will need to get going and they are readily available to anyone that is interested. Visit our site to find out more about the sign up procedure with each online bookmaker out there.
