Along with betting on sports and sports events, some bookmakers offer lines on politics, culture and other areas of public life. bookmaker-ratings.com will tell you about them in this article.
The global popularity of betting on politics and cultural events
For many professional gamblers, betting is inextricably linked with sports events and online casinos, but not with politics. However, bookmakers are confident that a certain number of players can bet on the results of the presidential elections in a particular country, and on the result of Eurovision or another event, as well as on the position of a particular candidate.
In many countries, betting on political and cultural events is immensely popular. For example, in the UK it is comparable to sports such as golf and rugby. In 2016, all records were broken betting on whether the country would leave the European Union. A similar surge was recorded in Scotland when the independence referendum was held.
Political betting is particularly popular in the US and Western Europe. There, bets are accepted on any events that are linked to the name of the president.
Among other things, British bookmakers are happy to accept bets on political events taking place abroad. Such bets can be placed at major bookmakers such as Paddy Power.
Does betting on politics and cultural events have a future?
Every day at least one major political event takes place in the world. To a different extent, everyone in the world participates in it. Therefore, there is a good chance that the number of players wishing to bet on politics at bookmakers will increase.
Unlike betting on sports events, betting on politics and cultural events does not require preparation, analysis or specific knowledge. Everyone who turns on the television, surfs the internet during an election campaign or reads the news, for example, is aware of elections.
The odds for political events are about the same in all bookmakers’ offices. When determining the leader and calculating odds, companies are guided by official and unofficial opinion polls, studying data on election campaigns, and so on. Therefore, the difference in the odds is usually small, and in this case, the offices can be trusted.
Bookmakers accept bets on cultural and political events several months in advance. It should be borne in mind that these are long-term bets, the dates of the events themselves can be postponed (in this case, they sometimes make a refund), and the list of participants can change.