Bookmakers are on a constant expansion of their betting offer and provide punters with multiple options to bet on politics. The most exciting odds and markets are naturally aimed at the most important political events, with the American elections being at the top of the list. In this regard, 2020 is special because it brings in the spotlight one of the closest and most anticipated political races in the world. Sports books have published the first odds in 2019 and since then, they have changed many times over. At the time of writing, Joe Biden has emerged as the strong favorite to win the race at the expense of Donald Trump.
Punters bet larger amounts on US elections
Betting exchanges such as playuk.com as well as traditional bookmakers have noticed a surge in the number of bets placed on US elections. Not only the frequency of the wagers, but also the amounts invested has increased and this trend is going strong at the moment. As the end draws near, the odds get more volatile, as every single event has the power to influence the result. Seemingly, the manner in which the incumbent president has managed the pandemic crisis benefits his rivals, as Biden is consolidating his lead.
UK punters have wagered massively on the American race, with tens of thousands of dollars being spent on this market alone. Bookies have plenty of tools in their arsenal to manipulate the odds and preserve the proverbial house edge. They are, however, compelled to take into account the market movements and react to the bets placed by highrollers. Apparently, the high number of people betting on the Democrat to win the race prompted the odds to move in this direction.
At the beginning of the year, the two rivals were evenly matched, with most bookmakers offering even odds on their victory. As Trump is losing ground, the odds are also shifting and Biden is now priced at 4/5, respectively 1.80 in decimal format to come on top. This means that players who wager on the underdog enjoy better odds, revolving around 11/10, or 2.10 in decimal format. Americans can’t wager on the elections, which is unfortunate, but Europeans don’t have such restrictions.
Special betting markets are also popular
The overwhelming majority of punters betting on the US elections are happy to focus on the outright winner. Savvy punters and those who seek bigger odds can tinker with handicaps and try to predict the margin of victory. A landslide triumph by any candidate will produce bigger odds, as the race is expected to be rather close and decided by a few swing states. Looking back at what happened in 2016, the polls are not as reliable as one might think and punters might be tempted to bet once again on the underdog.
As the polls come in and Election Day draws near, the odds are likely to change many times over. Punters
who have accounts at multiple bookmakers can take advantage of the best values available.