Events such as presidential elections are probably not the first thing that comes to your mind when you think about online betting. However, this somewhat strange category that can be loads of fun – but can it be reliably predicted?
In this article, we’ll take a closer look at the ins-and-outs of political betting. Since it is vastly different from regular sports betting, we’ll try to focus on the differences between the two. That way, you will hopefully be able to easily get into betting on politics if you already have a firm grasp of the basics.
First, let’s take a look at some things that work much like in sports. First of all, you need to approach your betting with the same detachment. IF you’re looking for value in sports betting, it shouldn’t matter who your favourite team is or who you support. Betting on politics is the same – ironically, you need to set your political beliefs aside.
Similarly, you need to trust statistics and reliable information, rather than gut feelings. The issue here is that information is much harder to trust, relative to sports stats. The world of politics is rife with propaganda politics and misleading stats and numbers. Ideally, you want independent political analyses to base your wager on.
Another aspect of political betting is that your bet is going to last quite a while. Political campaigns last for months at a time, and during this period anything can happen. Popular opinions change, and politicians that once seemed a safe bet can suddenly become the opposite. Public opinion is a cruel mistress, and probabilities in politics betting can change in a heartbeat.
What this also means is that you should not always rely on what currently feels like the public’s opinion. Even the best public surveys do not necessarily produce reliable results. An easy example of this would be the 2016 US presidential elections (if you want bet online presidential election of US 2020 with bitcoin – check best bitcoin sports betting bookies). If someone were to bet on Donald Trump winning during the early days of his campaign, they would have made an absolute fortune. During these early stages, most political analysts and pundits outright dismissed his odds of success.
However, if we don’t consider stunning exceptions like the one above, large elections such as the one for the next US president rarely offer good returns. In most cases, and a lot of countries, the results of elections are known before voters ever hit the polls. Just like in sports, favourites are favourites for a reason. Bookmakers set their odds accordingly.
To get around this, a common strategy for finding value in online sports betting is looking at smaller leagues and low-profile matches. Bookies pay less attention to these, and there is often less information to base their odds on.
You can employ the same tactic for political betting. For example, some political betting market allow you to back smaller parties to surpass the minimum threshold and gain seats in the parliament. Such political betting offers can often provide much more value than obvious wagers on major parties. Best political betting sites is 22bet and 1xbet, also unibet politics bookmakers has a lot of bets to offer.