What is Political Betting?
Is Gambling in the UK Legal?
Yes, it is. Gambling in the UK is legal and it is regulated by the UK Gambling Commission. You will find also that many UK betting sites are also regulated and registered in other countries and regulated by the likes of the Malta Gaming Authority. This is because many sites are operated offshore. Despite that, all gambling in the UK is still legal.
Is Gambling on Politics in the UK Tax-Free?
Yes. Not only is gambling legal in the UK, but it is also tax-free. You won't have to pay any income tax on winnings you get from qualifying bets. All gambling winnings are tax-free. But that also means you won't be able to deduct any bet losses from your taxation either.
Can you use your free bet to bet on politics?
Yes. Free bets are for you to use at your discretion. You can even use it to place your first bet. Keep in mind though that any qualifying bet settlement from free bets may be subjected to wagering requirements. Get in touch with the customer support team of your betting site of choice to find out more about this.
Can you bet on the politics of other countries?
Definitely. UK sportsbooks and bookmakers do not just allow punters to bet on whether or Boris Johnson wins or not, they also allow betting on foreign politics. This means you can bet on the US Elections, on who will win the next US presidential election, or if Joe Biden will be the next US president. You can also bet on who will be the new president or whatever country, on the Irish unification, and even on politics in South Korea.
How to Find the Best Odds?
This will take a bit of research. If you have betting accounts over multiple sites, you can individually check on those. You can also follow blogs or social media groups that list odds from different bookmakers. You can also check out betting exchanges too. They are known for having better betting odds than traditional bookies since you will be betting against other punters.