Whether you have signed up with Paddy Power US politics or Bovada, you should do lots of homework before putting your hard-earned stake on any candidate.
The traditional market for online political betting is gaining lots of momentum recently with the raid of cutting-edge concepts like future trading, betting for research in elections.
The gambling world is not black-and-white anymore. And one must be politically conscious and well-read before taking a leap in the uncertain trajectory of political gambling.
The following points will give some foods for thought when you are quite determined to wager in the US presidential election.
Why is It Popular?
If you work in finance, then future trading should be a well-known phrase to you. But do you know future trading is literally taking the world of gambling by storm also?
In the US, online gambling is prohibited. So you can as well go for future trading or prediction market. A person can go for contracts transaction in future markets depending on the outcome- either it should be a ‘yes’ or a ‘no’.
Apart from checking Paddy Power US politics daily, visiting Iowa Electronic Markets can set your balls rolling in future trading for the presidential contest.
There is no doubt that for the millennial, a prediction market is replacing the traditional online gambling and how! When orthodox betting online is banned in your country, then prediction market provides you with legal sanction, fun element, viral content, and social status.
Ladbrokes is another popular betting site that has taken the prediction of US elections to a new level.
What to Know before You Play?
The terms like ‘future trading’ and ‘prediction market’ sounded rosy and all good till Brexit happened. And then all hell broke loose.
Why? Because the prediction market showed that Britain would vote to remain in the EU while the polls displayed opposite result. In the end, polling won hands down.
So it’s better to learn from this incident and take prediction market with a pinch of salt when it comes to US election.
Predicting takes into account the opinions of the mass and it’s called the ‘wisdom of the crowd’. While polls majorly depend on upon periodic surveys and the analysis of experts, predicting counts day-to-day changes in events- leading to the election.
So many people, so much noise and vast numbers of opinions certainly make a chaos and the direct to faulty result just like Brexit.
The advent of social media has made the job only tougher for a prediction market. That’s why to decide wisely.
What are the Betting Odds?
You should know your betting odds inside-out before jumping to any conclusion. If you are a risk-averse bettor, then pick up the decimal odds, as they leverage more on total numbers rather than the total profit.
Here, your return will be calculated per $1 you have wagered. For someone who is new into political gambling, the decimal odds are easy to be understood.A site like Investopedia is a treasure trove to learn more for decimal odds.
The seasoned gamblers of States much prefer the money-line bets. In the case of political gambling, money-line bets work like this- instead of counting the vote of an individual candidate, one has to calculate the total number of states the winning party has gained in the election.
It sounds a little bit of tricky and involves lots of calculation and numbers. Also , your chances of victory are quite marginal; but yes, if you can click on the money -line betting odds, the return can be quite phenomenal. So read about both of them more, and select carefully.
How to Make Payment Safely?
Do you hold a higher degree in social science/statistics? Are you satisfied with your job? Do you look into every avenue that gives you intelligent kick?
For you, the NewZealand-born site PredictIt is the solution for betting.So whether you are predicting the name that will come second in the Republic Party next to Trump or the percentage Democratic group will win in the Southern States cumulatively, you can do it via PredictIt in a legal way.
Suppose, you are gambling on the highest vote grosser in Republican next to Trump. From PredictIt, you can purchase your agreement for $85 cents.
Now sell it at $ 1.50 payout if your chosen candidate fulfills your prediction. You can have as minuscule a bankroll as $15 and still reap greater rewards.
As polls are proving to be more and more uncertain when it comes to prophesying the correct result, an academic transaction in the realm of political betting has a future. And you can be a part of it too if you have the mettle.
Precautions to Follow
If you have not yet cultivated the habit of reading the morning daily; then start doing it from tomorrow. Also watching news channels for political debates can also enlighten you in so many matters that can make you a more informed gambler.
Unlike sports, political gambling involves many gray elements in deciding the loss or win for a candidate.
Scandals, an inner-turmoil inside the party, a tweeting blunder or a mere slip-of-a-tongue can ruin the prospect for your potential candidate in the election.
You don’t need to take into mind all these while betting on poker, right? As mentioned above, PredictIt is a site that takes into consideration political betting for academic research only.
If you don’t have the instinct to put your stake on against money line odds for politics yet; then first become aware politically and then go for a more sophisticated version of political research betting.
Following your favorite candidates on Facebook, Twitter, or Quora can bring on some profound political tidbits your table.
If any of your close friend or colleague works as political campaigner-subtly asking for insider’s scoop on him/her is also valid in political betting.
The above points by no means are for scaring you away or muddle your thoughts. Hopefully, they can give you a better starting point towards the incredible journey of political gambling.
Read, think, share, discuss, and you are bound to select well thought-out betting odds.