Sports Betting Fans Wager on Politics

Betting is nothing new, and in many ways our global economic system is based around it. World stock exchanges are essentially a forum where people can make short or long-term bets on a winning company of their choice. So with the rise in popularity of the online sportsbook also came many new ways to place a bet; and not just on sports. Several of the top sportsbooks now offer the player a chance to wager on politics and as the battle for the 2008 U.S. presidential election heats up many sites are taking action on some of the biggest contenders in politics.

Betfair for example, one of the biggest names in the sports betting industry, offers “in-play” wagering which allows the player to follow and bet on political events as they progress during the course of the year. This is a great feature for players who like to follow the elections in real time.

As for the upcoming U.S. presidential race, the two favorite at most online sportsbooks are Senators Hilary Clinton (D-N.Y.) and Barack Obama (D-Il). Looking back at Senator Clinton’s 2000 surprise victory in New York State should give players a good indication that she has the ability to muster up a lot of votes and is a serious contender. Many sports betting sites are offering 1:1 odds right now on Senator Clinton but the race is just beginning. Forecasts predict that odds could drop to 1:3 in the future as the race progresses.

But one political decision Senator Clinton made in 2002 is still trailing her and threatens to dash her aspirations for the presidency. Her yes vote on authorizing military force in Iraq has been seen by some as a major stumbling block. Many of the voters who backed her in 2000 were outraged. Since then she has come out as an opponent of a long-term military presence in Iraq. Some believe this may have been a political blunder that could ultimately cost her the race. The online sportsbooks are likely to adjust their wagering odds according to her popularity with the public as the elections approach.

Senator Clinton’s decision to run for president was made only days after Senator Obama announced his intentions to run. If elected, Senator Obama would be the first African-American to head the White House. Some believe it’s a long shot especially due to his lack of experience as a politician. Before being elected as Senator of Illinois in 2002, Obama was virtually unknown. But then again, so was Bill Clinton leading up to the 1992 presidential election. According to the odds being posted on several major online betting sites like Sportsbook.com, he’s not that far behind. Typical odds on Senator Obama stand at about 6:1 right now but that’s not to say things couldn’t change in the near future.

In early February 2007, Sportsbook.com was posting the following odds for the 2008 presidential election: Hillary Clinton 4-5, Barack Obama 3-1. BetCRIS, another popular online sportsbook, was only taking bets on the political party and not the candidate. They posted the following on their site: The Republican Party at -115 and the Democratic Party at -140. So far Bodog, another big name in the industry, wasn’t offering odds on the election, yet.

Though sports events still rule most of the activity at these sites, politics and even entertainment props betting offer the player several other options if they are looking for something a little different to bet on. Keep your eye on the odds being offered on the next U.S. presidential elections and you’ll see just how dynamic this area can be as the race begins to heat up.