As the big date looms closer, eyes are on the odds.
With this presidential election, Americans face one of the most significant crossroads in recent US history, and it’s safe to say it has everyone on the edge of their seats.
With both sides of the political fence more embroiled in the results than ever, many are choosing to up the ante.
Key Highlights
- Harris takes the lead as betting odds shift in her favor.
- Betting on the election heats up, with sportsbooks seeing increased activity.
- Election outcome remains uncertain, with surprises still possible.
Who’s Betting?
Since the dawn of civilization, hot-blooded humans have unfailingly asked one question in dire situations with uncertain outcomes: Do you want to bet on that?
While wagering on politics isn’t exactly legal in the US, that doesn’t mean Americans can’t partake.
Betting offshore is a legislative grey area in many states, allowing residents to safely place their wagers on sportsbooks overseas. And, of course, the rest of the world is joining in because who could resist this circus?
Trump Strong Out of the Gate
Just a few short weeks ago, Trump was favored to win on multiple betting sites. His narrow escape from an assassination attempt caused his odds of winning to skyrocket.”
Loads of sportsbooks offer political betting options, from VP picks to celebrity endorsements, but the biggest throwdown is over who will take the presidency.
Just a few short weeks ago, Trump was favored to win on multiple betting sites. His narrow escape from an assassination attempt caused his odds of winning to skyrocket and put him at -280 over Biden’s +385 on Bovada.
He still had the lead even when Kamala Harris announced her running mate, Tim Walz, on August 6.
Sportsbooks in the UK, such as William Hill and Paddy Power, had Trump sitting at 4/5 (-125) and 8/11 (-138), respectively, and Harris at even money (1/1, +100).
Harris Takes the Lead
Whether it’s due to the increasing endorsements, Harris’s impassioned speeches, or Trump’s inability to keep his mouth shut, the growing support for the Democratic nominees is evident in the sportsbooks. The odds have shifted slightly over the past few weeks to favor Harris.
Over at BetOnline, Harris is now at -120 over Trump’s +100. They’re tied at -110 on Bovada, BetVictor, and Bet365. Sports Interaction has Harris at -120 and Trump at +100. It’s clear the tides are turning.
How to Read the Odds
What do the minus and plus signs mean? Negative odds represent the side favored to win, and the number next to the dash indicates how much you have to wager to make $100.
For example, if the odds are -150, you’d need to bet $150 to gain $100. Obviously, sportsbooks are in business to make money, so they’re going to pay out less for the favorite.
On the flip side, a plus sign means it’s the underdog bet. The number here tells you how much you’ll win on your wager. For example, a +150 means it pays $150 on a $100 bet.
Anything Can Happen
November is yet months away, and while betting odds are historically a good measure of who will win, it’s not always the case. One such example was the notorious 2016 election when Trump was the underdog and beat Hillary Clinton.
If the past year is any indication of what can happen between now and then, Americans can expect the unexpected.
No matter who you’re betting on or voting for, this election is sure to be a nail-biter. Just be sure to follow your state’s laws regarding wagering offshore.
