The world of politics is a complex one and while most of us have our opinions, the fact is we know very little of the things that happen behind closed doors of the political cabinets around the world. For those who think they know more, Betfair politics is a great way to put their money where their mouth is and place some bets on the current world affairs.
For all those who love to track the political affairs around the world, this premium sports betting operator has prepared plenty of betting options. In fact, there is no other betting site that offers more politics betting options than Betfair, so dig in and find out more about how you can bet on politics at Betfair. Be sure to take a look at our “Is Betfair safe?” guide before signing up.
What is Politics Betting?
Normally, sportsbooks offer people a chance to place bets on the winners of certain sports matches, tournaments or leagues or predict other more intricate elements of such sporting events. Politics betting brings political affairs to the level of sports matches and allows users to make predictions about the future of the world of politics at odds calculated by the bookies.
Betfair is one of the leaders in politics betting as they were very much involved in events such as the election of Donald Trump as US president, which was one affair in which many people who placed bets won plenty of cold hard cash.
A few years ago, politics betting was reserved to a few events a year, but today the operators offer betting for numerous events and elections in Europe, USA and other parts of the world. The politics markets usually offer very direct choices such as Yes/No on a result of a referendum or a list of candidates for an upcoming election.
Each year, the list of politics betting markets seems to expand as the bookies give themselves more and more freedom to predict the upcoming events. The ways in which bookies create the odds for these markets are similar to those in which sports odds are generated, which does speak a lot about the world of politics and the fact that everything can be predicted to some degree.
How to Bet on Politics at Betfair
Betfair offers two different ways in which players can place bets on politics. The first is through the regular sportsbook, in which players can place bets at preset odds, which are based on the bookie’s analysis of the event and the results of that analysis. The second is through the Betfair Exchange, which allows punters to bet against each other and back/lay the various options in each market.
Whichever option one chooses, they will have to go to the Betfair site, find the politics tab and then choose an event from the list. Events offered include the likes of Betfair politics Brexit betting, US presidential elections, UK general elections, referendums, as well as more particular events such as North and South Korea reuniting as a single country.
Once a player has found the best they are looking for, they will be presented with the various options within the market and the odds for each option. The process of placing a real money bet is a fairly straight forward one as a single click is enough to add the option to the betting slip.
Once there, players can decide how much to bet. Keep in mind that politics bets at Betfair are often capped at relatively low maximum bets, so as to prevent persons who have personal interest in the events from placing bets that could potentially interfere with the political event in question.
American bettors will surely be the most interested in Betfair politics US related markets, such as those relating to the next presidential elections. Betfair goes as far as offering users a chance to place bets on election that will only happen in a number of years, with some fantastic odds on candidates who have not yet even been nominated.
Before placing bets on such events, remember that these markets are highly volatile and probably not the best bets one could make in regards to value and actual expected return. The wig which Betfair charges on these bets is often very high, which is why players should limit the amount of money they place on single politics bets.
Legality and Legitimacy of Politics Betting
Betfair is an international betting giant who has already established a presence in the USA by acquiring one of the first New Jersey gaming licenses. As such, Betfair has the legal right to service some US customers with sports betting services and it is expected that the operator will further extend its reach in the coming years.
When it comes to the legality of politics betting, there is no legal obstacle to sports betting sites offering such markets. The consideration of whether such events should be bet on is quite a real one, but at this time there is no law prohibiting it in the USA or other major jurisdictions such as EU or UK.
For the time being, politics betting is likely to keep growing in popularity as more and more Betfair politics markets are added to the mix every year and the overall value of bets placed continues to increase.
Betfair Politics Tips
It is certain that no one in the world can call himself an expert on politics betting since such an activity has only been available for a short number of years. However, there are some things that one should definitely keep in mind when betting on politics. While we may not be experts in politics betting, here are a few basic Betfair politics tips that we can make as sports betting experts:
Bet on events you know:
The media coverage may not always provide the public with all the information, but keeping track of an event through the media gives us at least some understanding of the situation. Don’t make bets simply because you read one article of heard someone say something.
Be careful of the odds:
Just because you think something might happen doesn’t mean it’s worth betting on. Make sure that you only place bets when the odds are favorable and you believe an event is more likely to take place than the bookie does.
Don’t bet the dark horses:
The politics betting markets often allow for some outrageous bets such as a movie star becoming president of the USA or the capital of the country seceding from it. Avoid making such bets even when the odds are 1.000/1 as the actual probability of this happening is much lower than that.
Bet for fun:
Politics betting markets are meant to be fun. Don’t take politics betting too seriously and bet too heavily on either side. After all, there is nothing you can do to affect the outcome in a meaningful way and we never know how much information is actually being shared with the public.
Bet on Your Leaders
The Betfair Politics market is certainly one of the most interesting betting markets out there, with some outrageous bets to be made. Players looking to bet on politics can visit Betfair, create real money accounts and check out the markets right now. Those looking for even more legal sports betting action can check our comparison of sports betting sites and choose an online betting site legal in their state to get their action on. Alternatively, you can read our individual operator guides as a good comparison, such as our Unibet betting review or William Hill bookmaker review.
Conclusion: Politics are Worth a Bet
Millions of people around the world believe they are the authority on politics. Betfair politics betting gives everyone a chance to prove and make a bet of their own. Join Betfair now
and place your first politics bet at one of the world’s top sports betting sites.