Political Wagers in Sportsbooks
To those who are learning how to become a bookmaker, it should not come as a surprise to find out that sportsbooks will offer lines on just about anything. Bets unrelated to sports will be offered, and people do make money out of these wagers. One of the popular non-sports wagers you will see are political wagers in sportsbooks. This is very common during the election period of countries.
You will more likely see wagers on who will win the election, and the bets could be based on the politician. You can also see bets on country-specific elections. For instance, in the US, bookies were offering odds on how many states will be blue, or how many will be red. The really good bookie software companies will have these options from different countries easily available.
But aside from betting on election results, there are many other ways you can earn from betting on politics. For instance, it is now very common to see bets offered on heads of states. Your pay per head sportsbook will allow you take in as many bets as you can on many events. And betting on politics is very lucrative. Especially when people are voting for tenure of presidents and prime ministers. For instance, bookies across the pond are betting on how long will Prime Minister Boris Johnson survive his term as Prime Minister?
Johnson is gaining much in his approval rating, and could maybe get another win for the conservatives in the next election. Meanwhile, bookies in the US are now offering bets on whether they think President Joe Biden will complete his term as President of the United States of America. While Joe Biden has been doing a lot since he took office, there are doubts about his longevity. When Biden was freshly elected, his odds for finishing his term of four years was around 1/3- around 75%. Now, however, the odds are down to 4/6, around 60% of implied probability. In addition, you can already view and bet on the 2024 US elections, should you want to do as early as now.