As its name suggests, political betting is betting on the outcome of politics. Be it politics in the UK or international political betting like election betting for other countries.
With political betting, you can bet on the outcome of the elections in the UK or other political betting markets, including international ones.
Presidential election betting is popular and bets are placed on the French presidential election, the US presidential elections, and even the next Australian federal election. European politics betting is popular among political bettors too.
In politics betting, pay attention to the political odds before you place bets.
Can you Bet on Politics in the UK?
Yes. You can bet on practically anything in the UK.
Gambling is legal and it is regulated in Great Britain by the Gambling Commission. The UK Gambling Commission also regulates gambling and betting in the rest of the United Kingdom.
As such, you can bet on local elections for party leaders or the next UK prime minister, or even the next Scottish independence referendum.
Political betting markets in the UK do not have any partisan leanings. Elections for a conservative leader or liberal democrats get about the same amount of interest. Usually, bigger elections like for the next prime minister attract more punters, regardless of the parties.
How to Bet on Politics in the UK?
It’s easy. You can either go to a betting shop or online betting markets to place your bets.
Online vs Shop Betting
The process is more or less the same for both, the only real difference is the location. Online betting markets are placed online via betting websites.
Betting shops are the more traditional option. You can place bets by visiting the shop directly or by placing your bet via phone call.
Both options will give your information like political odds, election betting odds, general election odds, and other information you can use to make an informed politics bet.
Politics odds are not fixed and they will vary from one sportsbook to another.
Will You be Taxed?
No. You will not be taxed for any of your winnings and qualifying bet settlement.
Political Betting Tips
Below, we have listed a handful of really helpful tips for anyone who is in to politics betting. These tips should be helpful even if you are new to betting on politics or if you’re a veteran at it.
Get to Know the Political Landscape
You don’t have to be extremely well versed in local politics or the politics of a country whose elections you are betting on. But you should at least have a good idea about the political landscape.
Find out who are the favorites to win the general elections, and what the general election odds are. Following up on current affairs will give you an idea of this.
Local pundits are likely to have predictions on who the winning party leaders might be. Consider what they have to say before you place your bets.
Try Spread Betting or Forecast Betting
In addition to betting if a candidate will simply win or lose, you can also try the more complicated bet options.
Multiple bets or accumulator bets and other complex bets are popular because of the usually lower min odds that you need to place while still guaranteeing a return.
Single bets have a higher return, but you also have to place higher bet stakes.
Look for the Best Odds
The odds show you how much you can potentially win should your bet be successful.
Not all betting shops and sites are created equal. Some will offer clients better odds. Look for the ones that give you the best odds.