The most interesting aspect of sports betting for players is not just earning some money on gameday; it’s about being right. Even if it’s being right about the US Presidential Election.
While casino betting is mostly about luck, and poker betting is about strategy and cunning, sports betting is about making a correct, analytical prediction, and having a handful of winnings to show for it.
That’s why U.S. politics betting can garner your pph sportbook a ton of action. Like sports, politics has the passion, interest, and polarization you’ll see in any Yankees versus Red Sox series.
That’s why anyone looking at how to become a bookie should be ready to inform their players they can bet on the US Presidential Election. Wagering on the event is easy to understand with just two candidates, Donald J. Trump and Joe Biden.
The power of social media, polls, and debates keeps the odds moving at an exciting pace. And being able to have a monetary representation of picking the right horse in this wild race gives them bragging rights.
With the US Presidential Election between Trump and Biden on November 3rd, 2020, there’s no better time to inform your players that this pivotal wager is at their fingertips.
How US Presidential Election Betting Works
US Presidential Election Betting works just like wagering on one team to beat the other straight up. The moneyline is simply a wager where the team, or presidential candidate in this case, must win. There’s no amount of points a team or candidate has to win by or any other stipulation.
Check out typical odds on something like the US Presidential Election. Because both Biden and Trump have backers and fans, their odds will be different than the following example.
Example:
Odds to win the 2020 U.S. Presidential Election
- Candidate A -245
- Candidate B +180
Let’s say your client bets on Candidate A at -245 to win the election. That means if a player bets $245 on Candidate A he could win $100 for $345 total. If he bets on Candidate B, he wins $180 for every $100 he risks.
The minus indicates the favorite, and the plus indicates the underdog. When looking at Trump versus Biden, both have been a favorite or dog at some point. Therefore, bookies should inform their players to place their bets immediately; the odds may not stay in their favor for long.
When the election is over, while the masses dissect what’s transpired, players and bookies are cashing in.
When to Promote U.S. President Election Betting
Because politics betting is such a straight-forward process, you can focus on timing to garner player interest and attention.
When it comes to any election, the odds after a debate always attract huge interest. Bettors, even voters, want to know who won, and what it means for Election Day. Odds, and how they’ve moved, are a great way to indicate where the election is headed.
Twitter, and other media outlets, are also a great source of information. In the internet age, we have instant access to any candidate’s gaffe seconds after it hits the web, offering players odds when this occurs could garner heavy action.
What Bookies Should Watch Out For Before November 3rd
With a two-party system and the passion of a classic sports rivalry, bookies should be on the lookout for waves of wagers coming in leading up to the election.
As we said, we live in an up-to-the-second news and media cycle. Therefore, if anything occurs with either candidate, you could see election bettors rush to their pay per head bookie to place bets. That tends to shift the odds and potentially put your bankroll at risk. If you feel the action is too offside in those situations, we suggest lowering the limits to a more manageable amount.
Also, bookie software gives you the ability to place layoff bets. This means you can place a wager yourself on the other side to balance your book if Trump or Biden starts taking a lion’s share of the action.
When election day is over, there’s no need to start the new day in a deficit. Leave that to the politicians.
Settling Election Wagers
Most election results are unofficially declared by a cohesive number of media outlets stating that one candidate has garnered the 270 electoral votes required to be President. If not, bettors may have to wait until the Supreme Court counts the votes to determine the winner.
In the 2000 election, it took 36 days for the Supreme Court to determine the election between George W. Bush and Al Gore. Bookies should tell bettors that all wagers have action. Therefore, as long as either candidate is declared the winner, the wager is settled accordingly—no bias, no theories, and no opinions.
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Election Night Betting
If bettors see Presidential odds they like, bookies should tell them to jump on the line. Any “October Surprise” could quickly shift the odds on a candidate. Also, when election night arrives, expect endless line movement as states declare for one candidate or the other.
If bettors want to have fun with the rollercoaster, they should wait until election night. If they want to place one bet and relax, suggest they take the first winning wager they feel presents value.
Become a Bookie, Offer Pay Per Head Service for the Election
There’s never been a hotter time to offer US Presidential Election betting. Use the pay per head free betting software to ensure you have everything a player needs, including the best and only online payment and collection system in the industry.