There is probably no other sphere of sports that is as exciting or as unpredictable as the world of politics. Whether it’s a close race or a landslide, there is always something new to learn about the intricacies of the democratic process. While betting on sporting events has become popular in recent years, fewer and fewer people are familiar with the ins and outs of political betting. That’s probably because betting on politics is much more complicated than usual sports wagering. In this guide, we will attempt to shed light on the basics of politics betting, outlining the various types of bets you can make and some helpful tips on how to place them successfully.
The Forms
The first and perhaps most vital step to successful wagering is familiarizing yourself with the various forms used in political betting. As with any other type of sports betting, it’s important to keep in mind the different rules that apply. Here are some of the most recognizable and commonly used forms:
Match Betting
When we think of politics and betting, naturally we think of match betting. A match bet is pretty straightforward. You’re agreeing to wager on the outcome of an event—in this case, an election—that will happen in the future. For example, you might wager $10 that Trump will be the next president of the United States. You’re going to have to decide how much you’re going to wager, and you need to decide now! Once you’ve made your wager, you’re committed. You can’t change your mind and decide you want to walk away without first having lost your money.
Short-term Market Betting
Some people might consider short-term market betting to be the cousin of the match bet. That’s because you’re essentially wagering on the short-term movement of a stock or commodity. For example, you might think that the price of oil is going to decrease in the near future, so you’re going to wager on that. That’s generally considered to be a safe bet to make because there is very little that happens in the oil market that surprises even the most seasoned of traders. Short-term market betting is pretty straightforward. You make your wager and, if the outcome is favorable, you win your money. If the outcome is unfavorable, you lose.
Long-term Market Betting
The long-term market bet is a bit more complex because you’re not just wagering on the near-future movement of a stock or commodity. Instead, you’re placing a wager on the direction that the overall market will take. That direction might be up or down, and it can change from day to day or even hour to hour. To continue with our example, you might think that the dollar is going to continue to strengthen in the long term, so you’re going to wager that it will. Of course, there is a chance you could lose a lot of money if you picked the wrong side of the market. It’s not always easy to tell which way the market is going to move, so this is generally considered to be a very high-risk, high-reward type of bet. Long-term market betting is a bit more involved, but it is generally considered to be among the safest and most enjoyable of all the forms of political betting.
Futures WAGERING
Futures wagering is, in a word, betting on the future. The beauty of futures wagering is that you’re not committing yourself to an outcome right away. Instead, you’re placing a wager on the movement of a stock or commodity over a designated time period. For example, you might think that the price of oil will increase significantly in the next six months, so you’re going to wager that it will. The tradeoff is that you are putting in more work to find out what will happen. Futures wagering is considered by many to be the ultimate in long-term market bets because it combines the excitement of betting with the security of knowing that you won’t lose your money right away. If you’re a fan of classic car racing, you might consider placing a bet on the winner of The Grand Prix de France, which is held every year in June. That’s because you’re wagering on which car will finish first based on the time they cross the finishing line. It’s not complicated. You make your wager and, if you’re correct, you win. If you’re wrong, you lose. It’s that simple!
One important point to make is that you shouldn’t feel bad about winning or losing big on political bets. Like any other type of sports betting, big or small wins and losses are perfectly normal and even common. Many people consider political betting to be quite a skill. You’re not going to win all your bets, but that’s perfectly normal too. It just means you’re a good sport and you’ve learned something new about politics. You can’t lose what isn’t yours to lose. Just remember: the more you wager, the better you’ll know what to wager on. Don’t get too carried away, though. Being overly speculative can land you in some serious trouble. Keep a level head and you’ll be fine. Just make sure you have the proper licenses and you’ll be able to enjoy your newfound hobby.