How To Bet On Politics: US Politics & Elections Betting Guide

The 2024 U.S. presidential election can make you quite rich, if you bet correctly. It can also provide countless hours of entertainment. By trying to predict political outcomes and the events surrounding the next United States election, you can actually enjoy watching the primaries and debates – even when the contenders are calling each other names and going on tangents.

Here at Odds Shark, we’re experts on betting and we want to impart that wisdom onto you. We’ll show you how to read odds for politics and the type of bets you can make. But first, check out our list below of the best online sportsbooks for betting on political events. You can sign up for as many as you like.

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Understanding Political Betting Odds

When you check out any of the sportsbooks we recommend above, you’ll see political betting odds laid out like so:

2024 U.s. Presidential Election Odds: Winning Party

Favorites are always represented by the minus sign (-) and underdogs with the plus sign (+). At +135, oddsmakers are giving the Dems a 42.55 percent shot of winning the election. If you were to bet $100 and they did claim victory, you’d get $235 – your original money comes back along with your winnings of $135.

On the other hand, oddsmakers are giving the incumbent party a 64.29 percent shot at staying in power. A $100 bet on the Reps would give you $155.56 – your $100 is returned coupled with your winnings of $55.56.

Underdog wagers, in this case on the Democrats, are considered riskier, which is why you get a bigger payout. Faves come with less risk, hence the smaller reward. Our Odds Calculator will show you how much you’d win based on the amount bet and odds offered.

Political Prop Betting

When betting on sports, you have moneylines, spreads and a slew of wagering options relating to scoring and different positions. In politics, you only have one type of bet to make: Props. These are bets that don’t necessarily correlate with the outcome of the election but could still influence voters, such as:

  • Who will be X’s running mate?
  • How long will the debate be between X and Y?
  • How many times will candidate X say “um” during the debate?
  • Will candidate Y bring up former president Barack Obama or the Clintons?
  • How many seats will the GOP win?
  • How many seats will the Dems get?
  • How often will candidate X discuss their health-care plan?
  • Which party will win the popular vote?
  • How many Supreme Court seats will be filled during the next presidency?

How to Handicap Politics

Because there’s no total score, strikeouts or touchdowns to look at, political prop bets use a different kind of research. Instead of betting home runs or three-pointers, you’re betting on policies.

Scandals: Rumors, Gossip and Indignities

This one is tricky because Donald Trump was plagued with scandal and still managed to get himself elected to the highest office in the United States. For any other nominee, disgraces do matter. The weirder the scandal, the less chance this person has of being president. If there’s a rumor that Bernie Sanders is the head of a satanic cult – which he is not – it could hinder his shot at being elected.

Leadership: Direction, Governance and Management Style

How a candidate has led in the past is something to look into when handicapping your bets. Are they respected in their current position of senator/mayor/representative/governor? Do they command the room when they speak? If a candidate looks like they couldn’t lead a high school marching band, let alone an entire country, you can kiss their presidential probabilities goodbye.

Injuries: Flus, Colds and General Wellness

In professional sports, even something as slight as a blister can keep the best athletes out of key games. The same goes for politics. Anyone who so much as sneezes during a debate could appear weak and influence voters to choose their opponent instead.

Promises: Offers, Eccentricities and Lies

Anyone who promises peculiar things is not going to win. Odd candidates also do not have a history of winning their races. Look out for those who make promises on the campaign trail that they will definitely not be able to keep. We’re not talking about the general stuff like lower taxes or Medicare for All – we’re talking about things that make little sense like free cutlery for cats or $1,000 a month to every family in America.

Politics is one of the many betting markets you can take advantage of. If you can correctly predict who will win the 2024 election, you could see yourself winning big. You won’t be Bloomberg rich but you could clean up like Mayor Pete at one of his wine cave fundraisers.