With the next presidential election little more than a year away, many people are already thinking about how to make their voice heard and what kind of impact they want to make on the world. But before you can even begin to make your voice heard, you need to put some money on the table.
Whether you’re a seasoned political enthusiast or this is your first time ever considering politics, you’re bound to have questions. How much should I bet? Who should I support? What’s the best way to influence the election?
You’re not alone in thinking about how to place a wager on the upcoming elections. In fact, the 2020 presidential election is expected to be one of the most competitive and most exciting elections in U.S. history.
If you’re looking for guidance on how to place a wager on politics, check out this article. We’ll walk you through everything you need to know about betting, starting with what type of wager to make and how much you should actually bet.
Types Of Wagers
There are four types of wagers you can make on the 2020 elections. They are:
1. Democratic Candidates Have Higher Odds
If you believe that Democrats have a better chance of winning the election than Republicans, you can wager on them. Simply check the betting odds for the two candidates you think will lead the pack. If you think it’s going to be a tight race, consider throwing down a small wager.
If you’re reading this and thinking that Trump definitely has the edge in the polls over Biden, you might consider wagering on the President. After all, it’s not often that you can guarantee you’re going to win money when you bet on an incumbent president. However, if you’re not convinced that Biden has what it takes to beat Trump, you can affordably hedge your bet and collect your winnings if he ends up losing.
2. Republicans Have Better Odds In The Senate
In the event that you believe that Republicans have a better chance of keeping their majority in the Senate than Democrats, you can wager on them. Simply check the betting odds for the two candidates you think will be leading the pack. If you think that one of the incumbents is going to lose his seat, consider laying down a small wager.
Incumbent senators face an incredibly tall order in this election. Not only do they have to fight to keep their jobs, but now they have to convince people that they’re actually worth voting for. Even if you have your eyes set on winning money, consider putting down a small wager to see if one of your favorites can pull off an upset victory.
3. Bet On The Overall Tally
If you happen to know the overall winner of the election, you can wager on them. For example, if you think that neither Biden nor Trump are going to win, you can wager on the winner of the race. However, this type of wager is not recommended; you should only wager on sports when you’re confident that you know the outcome. If you’re not confident that you know the outcome, consider checking the betting odds to get a sense of what’s going on.
However, if you know for a fact that one of the candidates is going to win and want to hedge your bet or open a line of credit (sportsbook bonus), you can consider wagering on the overall winner. Not only will you avoid paying off your bets if they lose, but you’ll also avoid the headaches and heartache of placing bets on the daily winner. The downside is that if they do win, you’ll have to wait until the end of the season to see if your pick won or if you’ve wasted your time and money.
4. Place A Straight Lay Down On The Election
If you’re looking for a way to wager on politics without having to think about the odds or make any kind of complex wager, consider placing a straight lay down on the election. With a straight lay down, you’re simply betting on the final outcome of the race. For example, if you think that Trump is going to win, you can lay down $10,000 on him.
The advantage of a straight lay down is that you never have to guess the odds. However, this type of wager is also easy to abuse and is generally only recommended as a way to wager if you’re confident that you know the outcome of the election.
The key is to make sure that your wager is easy to follow. If you’re new to betting, start out small and earn yourself a little bit of cash. Once you’ve established a good betting habit, consider increasing your wagers to see if you can’t improve your odds of winning.
The Risks Of Political Betting
There are several risks you need to be aware of if you decide to wager on politics. First, as we’ve established, you need to make sure that the book you use for betting is legitimate. If it isn’t, it could be a matter of time before you get your money back. Second, just because the book is legitimate doesn’t mean that all of its odds are accurate. Inaccurate odds can give you an unfair advantage or disadvantage in comparison to the house. Finally, just because the odds are favorable for one candidate or party doesn’t mean that you’ll necessarily win. There are always other factors beyond your control that can sway the outcome. For instance, the candidate you’re backing might lose their touch with the people or the other candidate could surprise everyone with a victory.
How To Bet On The Election
Now that you’re equipped with the basics of betting, let’s get to the good stuff—how to actually place the bet. First, you’ll need to determine how much you’re willing to wager. If you have a bookmaker account, consider using those to lay down your bets. Simply go into the account and make your wagers against the odds. Remember, the bookmaker takes a commission on each bet, so make sure you’re aware of that before you begin laying down your bets.
Make A List Of Your Questions
Before you begin betting, make a list of all the questions you have about politics. You might be wondering where you can find information on the current state of the race. Or, you’re wondering if Hillary Clinton is still relevant. There are a lot of questions and some of them might be better suited for the forums. However, if you think that you’ll get the most relevant information from the news, you might want to consider placing a few bucks on the table. With the news constantly changing as new information comes to light, it might be difficult to keep up.
Placing Smaller Bets
If you’re looking for a way to play with some cash without risking too much, consider placing smaller bets. Some sportsbooks will allow you to bet smaller amounts without penalty. For example, you can bet $2,000 and get $100 in free play. So, if you’re deciding which candidate to back and you’re afraid that you might lose a significant amount of money, consider placing smaller bets first.
The downside to betting smaller amounts is that it can be difficult to calculate your winnings and losses when you bet smaller amounts. You’ll either have to choose whether to pay off your wins or your losses, or decide to risk another bet. On the other hand, if you’re betting larger amounts, you can simply adjust your wagering to try and minimize losses. If you lose a significant amount of money on a single bet, you might end up having to close out the bet, but you won’t lose all of your cash.
Once you’ve established a good betting routine, you can increase your bets. Consider increasing your bets until you find a level that feels comfortable for you. Then, consider increasing your bets one more time to see if you can’t improve your odds of winning.
Remember, the best advice when it comes to betting is to stay within your means. If you want to invest in politics, establish a separate savings account just for that purpose. Then, when you’re feeling generous, you can consider making a one-time transfer of funds to cover your wagers. However, if you want to keep playing, consider making smaller bets so that you don’t overextend yourself and hurt your chances of winning. Just because the book you use for betting is legitimate doesn’t mean that you’ll be able to use it for credit. Check with the bank or credit card company to make sure that they’ll allow you to use their services to bet on sports.