Sportsbet on political betting
We spoke to Sportsbet to get their thoughts on the crypto and political betting landscape, give it a watch:
Where to bet?
Who has the best political coverage?
There isn’t much to choose between the best crypto sportsbooks in terms of markets offered and prices. We’d recommend having an account with each of these, allowing you to take advantage of whoever has the best price at the time.
Who has the best political odds?
If you’re after the best political odds just head over to BitOdds.com and check political odds comparisons, which list all key upcoming political events.
Or, for a more general outlook, head again to BitOdds and find crypto sportsbook odds ranking to see who offers the best odds across the board.
Who is the best all-round sportsbook?
Our extensive crypto sportsbook reviews give you the details on each crypto sportsbook.
The 3 operators we’d highly recommend are, in order, currently
Types of bet
Prediction markets
Simply put, prediction markets are speculative markets which ask a question about the future. With a simple yes/no market, bettors can buy and sell contracts for both outcomes. Whichever contract turns out to be correct pays out.
The prediction markets price a selection between 0 and 100, with 100 meaning it’s certain to win and 0 meaning it’s impossible to win. So if you saw a market trading at 72, this would suggest it has a 72% chance of winning. Again, this can be a great indicator as to where the vote is heading. You can read more about prediction markets here.
Outright markets
There is a wealth of outright markets available in political betting. The most common of these is to pick a candidate or party that you think will win an election. There are many deeper markets, like the next party leader or which party will win a specific state/seat in an election. All of this gives the bettor great flexibility when analysing an election.
Great rewards can be had by picking a candidate well in advance of the election date. For example, at the time of writing Kamala Harris is 4.35 to be the next US President. That could be of great value should Joe Biden decide not to run for a second term. If he does announce this and Harris decides to run then you would expect to see those odds halved at least. Be careful though, the landscape can change very quickly in politics…
Top tips for political betting
The odds can swing!
Shocks aren’t common, but be careful…
Each news network has its own agenda
The polls aren’t always right
How to win?
- Use betting odds rather than polls to gauge public opinion.
- Look for a niche in which your knowledge is greater than the sportsbook’s traders (for example, individual states or seats).
- If you’re confident, get on early to secure a better price.
- Follow the points on how to be a winning sports bettor.
- Media pundits are there to entertain – don’t take what they say too seriously.
- Try both pre-game betting and live in-play betting, to find out which suits you better.
- Get the highest possible payout for every bet by using BitOdds odds comparisons.