Can I Bet on the US 2024 Presidential Election?
As the presidential election approaches, many people are curious about the possibility of placing bets on the outcome of the 2024 election. Unfortunately, it is not legal for Americans to wager on the outcome of presidential elections. The reason betting on presidential elections is illegal in the USA is due to the fact that sports betting is a relatively recent addition to the gambling scene, and it is primarily sports events that are permitted for betting.
In 2020, West Virginia momentarily opened up betting on the presidential election, but just two hours later, authorities instructed them to withdraw the betting option for the election.
According to the sportsbook manager at MGM Casinos, this restriction might change in the not-too-distant future. He predicts that by 2028, it will be possible to place bets on the election. He believes that the market will mature and there will be acceptance for betting on a wider variety of events. Outside the United States, betting on presidential elections is already possible. One doesn’t have to look further than Canada to find opportunities to wager on the US presidential election, a practice that has become increasingly popular in Canada and Europe. During the last election in 2020, when Joe Biden won, a banker from London City placed a staggering bet of 5 million pounds (about 6 million USD) on Trump winning the election, using multiple sportsbooks registered in Curacao.
This was an extraordinary bet but overall, it is predicted that around 1 billion dollars will be wagered on the 2024 presidential election by international gamblers, as American citizens are not allowed to bet.
What Are the Odds for the Winning Candidate?
Several bookmakers outside the USA have opened up for betting on the next US president. Here’s a summary of the current standings, which are subject to constant change:
- Donald Trump: The former president has a significant following. Many Republicans want him back in the White House. However, there is also resistance against Trump. Some believe his controversial style and policies could harm the party. The odds for Trump will depend on several factors, including his official announcement to run and his positioning during the campaign. Odds for Donald Trump: -110 (52.4% probability).
- Nikki Haley: The former UN Ambassador and Governor of South Carolina is another Republican candidate being considered. She has a strong political background and has been seen as a potential presidential candidate for years. Haley’s odds will also depend on her campaign, popularity, and ability to garner support from the party. Odds for Nikki Haley: +3000 (3.2% probability).
- Joe Biden: As the incumbent president, Joe Biden brings experience from the White House. He has both supporters and critics. Some believe his policies and leadership have been effective, while others disagree. Biden’s odds will depend on his achievements during his first term and how he addresses challenges. Odds for Joe Biden: +188 (34.8% probability).
Remember, the odds can change over time, and it’s wise to stay updated with the latest developments. Both candidates have their supporters and detractors, making the run-up to the election an exciting time to watch!