Political Betting: How to Bet on Politics in the UK
Political betting is a form of gambling that involves placing wagers on political events, such as elections, referendums, and political outcomes. The practice has become increasingly popular in recent years, due to the evolution of online gambling, with many people finding it to be an exciting and engaging way to participate in politics and current affairs.
But do you know that political betting is not a new phenomenon?
It is actually hundreds of years old, with historians being able to trace this form of gambling back to 16th-century Britain and Ireland, when merchants would wager bets on who would succeed King Edward VI when he was near death in 1553. Even in the US, election betting was a common part of political campaigns in the pre-1860 period.
But with politics entering into a golden age of unpredictable behaviour, such as Donald Trump becoming president or the UK voting to leave the EU, betting sites and punters alike have come to believe there is money to be won on the ballot papers.
How do I gamble on Politics?
In political betting, just like in sports betting, you make a decision on who will win a certain outcome, look at a range of odds, accept these odds and make your stake. It’s actually that simple.
The best betting sites will have dedicated markets for the most popular betting requests from the public and have odds offered. All you have to do is choose what you are willing to stake.
Of course, you will need an account to bet online if you don’t already have one.
And remember, as big elections get closer, most gambling sites will offer bonuses and promotions, such as ‘a free £10 bet on the outcome of the next general election’ to new customers.
Why do people gamble on Politics?
Just like sports betting, people gamble on politics for a variety of reasons. Some do it for entertainment and to engage with current affairs, while others do it to make money. Political betting can also provide a unique insight into the political landscape and the opinions of the wider public. The unpredictability of certain political races also makes it that riskier, with the potential for a scandal able to completely skew the odds at any moment. Also, undecided voters can be the most difficult to predict, just as 2016 proved, which adds to the excitement of political wagers.
Different Political Betting Markets
There is a wide range of political betting markets available, each with its own unique set of rules and conditions. Some of the most popular markets include:
Elections: Betting on the outcome of elections is one of the most popular forms of political betting. This can include betting on the winner of a specific election or on the overall outcome of an election cycle.
Leadership Races: Betting on the outcome of leadership races is another popular form of political betting. This can include betting on the next leader of a political party, such as Labour’s Keir Starmer or on the outcome of a leadership contest, such as Rish Sunak for the Conservative Party.
Referendums: Betting on the outcome of referendums is another common form of political betting, with the most famous referendum in recent years being the Brexit referendum. While extremely popular to vote on, referendums do not commonly arise in British politics.
What are the most popular political markets to bet on?
Next UK Prime Minister
One of the most popular political markets in UK political betting is the identity of the next UK Prime Minister. This market is typically available on most political betting sites and allows bettors to place wagers on the individual they believe will become the next Prime Minister of the UK. This has been extremely popular over the past 12-18 months as the Conservative Party has been chopping and changing its leader at will.
Currently, Keir Starmer is the favourite to become the next UK prime minister after the next general election.
Number of seats at the next UK general election
Another popular market is betting on when the next UK general election will take place, along with the number of seats each party will win. Bettors can place wagers on the specific date or time period in which they believe the next UK general election will occur.
As for most seats, Labour is currently the strong favourite to replace the Conservative Party as the majority government.
Next Mayor of London
With the election for the next Major of London coming up in May 2024, betting on who it will be is another popular market.
Sadiq Khan is currently the hot favourite to retain the position.
Next Leader of the SNP
Betting on the next leader of the Scottish National Party (SNP) is a popular market for those interested in Scottish politics.
Humza Yousaf is likely to replace Nicola Sturgeon according to the bookies.
Next US President
The US presidential election has always been extremely popular to bet on, no matter where in the world you are from. With the inclusion of Donald Trump, along with his charismatic ability to rile up the Republican and unsure voters, it really is a hard election to call.
Other popular political bets:
- Brexit Reversal
- Joe Biden to last out the term in office
- Irish reunification
- Next Country to leave the EU
Political betting tips
While it is true that political betting can be wildly unpredictable. There are a few tips to help you make the most of your political betting experience:
- Stay up-to-date with current affairs and political events. This will help you make informed decisions when placing your bets.
- Research the political parties and candidates involved in the market you are interested in. This will give you a better understanding of the potential outcomes.
- Look for value in the odds. Some political betting markets may offer better value than others, so it is important to shop around.
- Set a budget for your bets and stick to it. As with any form of gambling, it is important to gamble responsibly.
Popular betting sites to bet on politics
Almost all of the best casino and betting sites in the UK have markets for political betting. It is all about doing the research and seeing which site will give you the best odds.
Fortunately, GamblingAuthority only recognises and trusts the best online casino sites to gamble at.
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