Betting the 2020 US Presidential Election
2020 US Presidential Election Could be a Wild One
The 2020 US Presidential Election will take place on Nov. 3. State-regulated sportsbooks operating within the United States are prohibited from accepting wagers on elections.
Some sites, such as DraftKings, are offering contests that don’t involve any wagers by the participants. Offshore sportsbooks are posting lines and accepting wagers on the election outcome as well as proposition bets.
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Election Contests
In the DraftKings contest, a player answers 12 questions for a chance to win $100,000 in prizes. The questions have to do with which candidate will win the election and in individual states. There are no odds established since it’s a contest, but DraftKings is supplying current polling data.
DraftKings offered contests earlier in the year based on presidential primary races and the debates. It’s not currently legal, but DraftKings is looking ahead to the possibility of future approval for election betting. With the increase in sports betting in recent years, it isn’t that much of a stretch for the future.
2020 US Presidential Election Odds
The latest odds have Democratic candidate and former Vice President Joe Biden as the favorite at -175. That means to win $100, the player would need to bet $175.
If you are looking to bet the US Presidential election, President Donald Trump’s odds are currently set at +135, meaning a $100 bet on Trump would win the player $135.
There are also odds for the Vice Presidential candidates to be elected President, presuming Biden or Trump drop out. Democratic candidate Kamala Harris has odds of +20000, while Republican and current Vice President Mike Pence is at +27500. A successful $100 bet on Harris would win $20,000, which is not bad if someone wanted to take the shot.
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Proposition Bet Odds
There are odds on whether the Presidential candidates will drop out of the race prior to Election Day. This isn’t surprising given the age of the candidates and the publicity about their fitness for office.
Biden’s odds of stepping aside are currently +700, basically seven to one against it happening. For Trump, the odds are at +1200. That means the chances of him turning things over to Pence are about one in 12.
Another proposition bet is on which party will get the most popular votes, regardless of the Electoral College outcome. The Democrats are favorites at odds of -500 with the Republicans at +300. Despite losing the Electoral College in 2016, Hillary Clinton won the popular vote over Trump.
Other Interesting Wagers
One prop bet has odds on what position current Speaker of the House Nancy Pelosi will hold on Inauguration Day. This bet would basically be on whether the Democrats hold the House of Representatives.
The only two positions available are Speaker of the House (-50000) and US President (+400). If you are a bookie, you can offer your players US election odds if you are using a quality PPH service.
With all of the controversy over mail-in voting and other polling place issues, another bet is available. There are odds set for what particular day the loser will concede the election, resulting in a winner. The favorite is Nov. 13 or later at -145, with the next most likely day of Nov. 4 at +225.
There are also bets available for each individual state’s election results. The closest race is predicted to be North Carolina, where the Republican is paying -135 and the Democrat -105. The biggest landslide appears to be in North Dakota, with the Republican at -10000 with the Democrat paying +1400.
