Frequently Asked Questions for Betting on the 2020 US Presidential Election

| October 23, 2020 4:18 am PST
2020 US Presidential Election Betting FAQs

Do you have questions about betting on the 2020 US presidential election? If so, I can help you get the grips with what is arguably the biggest and most important gambling event of the year.

Whether you are betting on Trump or Biden to win, you will find vital information to help you get the most bang for your buck. I’ll cover common questions such as how and where you can wager on the presidential nominees, the favorite to win the race to the Whitehouse, the best bets, top sites for betting on the 2020 presidential election, and much more.

Can You Bet on the US Presidential Election?

Yes. There are several betting markets available for betting on the 2020 US presidential election. Betting on who wins the election will be the most popular bet placed on this huge political event. But you will find more markets available, such as prop bets and specials.

Providing gambling is legal where you live — and you meet the eligibility requirements for the bookmaker or betting site you are placing your wagers with — there is no reason why you cannot bet on the presidential election.

Is it Legal to Bet on the Presidential Election?

The short answer for most people is yes, it is legal to bet on the 2020 US Presidential Election.

But although the internet may be borderless, gambling laws are not. They vary from country to country and there MAY be some restrictions on betting political events.

Although you’re unlikely to get arrested for a placing a wager or two, if you have concerns then you should seek professional legal advice. We also answer this question in more detail in the following post.

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Where Can You Bet on the 2020 Presidential Election?

This depends on where you live. In some countries you’ll have local sportsbooks or bookmakers to bet at. There may also be telephone betting services you can place wagers with. In most cases, you’ll be able to bet on the election online.

We’ve provided a detailed guide on where to bet on the presidential election, and this covers everything you need to know.

Where to Bet on the 2020 US Presidential Election

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How Do You Bet on the US Presidential Election?

This is very simple if you’re betting on the presidential election online. Most political betting sites are super easy to use. You just have to sign up, find the wager(s) you want to place, and choose how much to stake.

Online betting sites typically have live chat available, so you can always ask for help if you need it. If you’re betting in a land-based sportsbook or bookmaking shop, the staff there will be able to help.

Can You Win Real Money Betting on the Presidential Election?

Yes, you can win real money betting on this year’s presidential election. Providing you have staked real money on your wager(s), you will be paid out real money if you win. The amount will depend on how much you staked and the odds of what you bet on.

For example, if you bet $200 on Biden to win at odds of -200, you would see a return of $300. That return is comprised of your $200 stake and $100 profit.

If you bet $100 on Trump at odds of +150, your return would be $250. That’s your $100 stake, plus $150 in profit.

What Types of Wager Can I Place on the 2020 Election?

You can bet on who will win the election, of course, but that’s far from your only option. There are several markets relating to the Electoral College, and markets on voter percentage ranges, voter turnout percentages, and more.

The top betting sites for the 2020 presidential election also have plenty of wild and wonderful prop bets to get your teeth stuck into.

What Are the Best Sites for Betting on the Election?

Many online betting sites offer odds on the US presidential election. But not all of these sites are as safe or as awesome as they claim to be.

Our team of betting experts are experienced online gamblers, and they know what to look for when assessing gambling sites. We rank the top sites in a variety of categories, the ones above are our top-rated sites for betting on the 2020 presidential election.

Is it Safe to Bet on the Presidential Election Online?

It is absolutely safe to bet on the election online, providing you are wagering on a legal, reputable, and trustworthy betting site.

By only betting with a safe and secure site, you will ensure that your money, as well as your sensitive information, is protected.

Our recommended betting sites (see above) are fully regulated and legal where they are based, and come with our solid gold seal of approval. That means that everyone has been fully vetted and approved for their steadfast approach to keeping customers looked after.

Do Casinos Have Presidential Election Betting?

Not in the United States, no. None of the Las Vegas casino sportsbooks are taking wagers on the 2020 election.

This is primarily down to the fact that Nevada Gaming Control Board has strict rules regarding betting on political events.

It’s a similar story in other states that have sports betting in casinos. Casinos in some other countries may be taking bets on the election, though.

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Who’s the Favorite for the 2020 US Presidential Election?

At the time of writing, Joe Biden’s odds make him the favorite the win the 2020 US Presidential Election and become the next president. Donald Trump is the underdog to win.

Biden has been the favorite to win in 2020 for some time, and most polls also predict him winning. However, it is worth noting that Hillary Clinton, Trump’s opponent in 2016, was given an 85% chance of winning the election by the New York Times in November of that same year.

Clinton’s odds in late October 2016 were -275, which made her implied probability of winning a strong 73.3%. But she still lost. That proves that anything can happen!

Should You Bet on Biden or Trump to Win in 2020?

This decision is entirely your call.

Do you believe enough to bet on Donald Trump will win the 2020 presidential election? Or does your head tell you that Joe Biden is the man to back in this race?

Whatever guy you choose to bet on should be, just like your vote, entirely your decision. No one knows who will win the presidential election until all votes have been counted.

What Was the Biggest Bet Ever Placed on a US Election?

A $615,862 bet placed on Hillary Clinton to win the 2016 election is reported to be the most money ever put on a presidential nominee.

Will the most money placed on Trump or Biden in a single bet beat this record? I personally don’t see that happening, as Clinton was expected to win by some distance when this wager was placed in October 2016.

Sure, Trump’s odds have him as the underdog again, but it’s hard to see that kind of money being placed on either candidate.

However, with that said, the betting market for the 2020 election is likely to be bigger than almost any market ever before, so who knows what will happen.

When Will the 2020 Election Winner be Announced?

This year’s election day is November 3. Typically, a result would be known by late on election day, but that is highly unlikely to happen this time around.

There are almost double the amount of postal votes expected in 2020 than were cast in 2016, and some outlets are claiming that it could take weeks until a decision is finalized.

Let’s hope that is not the case.

Conclusion

I hope the US presidential election betting FAQs above have cleared things up a little for you.

You can find more betting content for Trump vs. Biden over the next few weeks, so please keep an eye on our politics blog for that.

Good luck with your bets!

Adam Haynes

Adam is a sports writer and tipster with a strong background in MMA and boxing.

A self-confessed sports fanatic, when Adam is not watching and writing about rugby, soccer, Gaelic Games, and F1, he can often be found working on methods and strategies to beat the bookies.

For his troubles, Adam is a big fan of Leinster Rugby, Glasgow Celtic, and trusting the process.

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