Political betting can be a tricky market to master. Punters have a wide selection of country politics to delve into, all of which have unique political systems worth noting when developing a solid strategy. Fortunately, with enough understanding of the political system you're wagering on and a topnotch strategy, you're sure to bring home a profit.
Political betting strategies all begin with establishing the country and the political race you plan to wager. Top political bookmakers typically offer markets on the two largest political systems in the world, the UK and the US. Some bookies also cover other European politics - including Scottish Independence Referendum betting as well as some of the key Irish political races. But regardless of the country you choose, establishing a strategy is vital to a positive return.
Politics in the United Kingdom draw massive attention internationally. For some, it represents the governing body of the most powerful country, an obvious interest to smaller countries influenced by the UK economy and foreign policy. Others pay attention because their country once contributed to the truth of the saying "the sun never sets on the English empire," meaning they have fellow citizens, friends and relatives with strong ties back to the 'homeland'.
And, as most gambling veterans know, if something draws the attention of the people, it draws the attention of the bookies and that's exactly why betting on UK politics - with the right strategy - can be a very lucrative market.
The wealth of political races that make-up the UK government as we know it always offer advantageous markets but require more area specific knowledge, meaning national races and media-grabbing topics are best when considering an event to wager. A lesser-known UK market punters typically find success in is the 'government after next' market.
This market strategy heavily relies on opinion polls, which are easily accessed and researched. National races like betting on the next leader of the Conservative Party provide ample data to research as well when constructing your strategy.
Politics in the United States have always hinged on the battle of the two parties, the Democrats vs Republicans. Almost all elections, including federal, state, and local levels, result in either a person from each party battling each other or one from one of the parties running unopposed.
It is rare, at any level of American government, to find an elected official who isn't registered with one of the two major parties. This makes for intense party election battles. The US Presidential election typically comes down to a Democrat vs Republican, meaning whittling down to one choice per party can be complicated.
Understanding the value of a candidates' party affiliation as well as what that party stands for is crucial when formulating a political betting strategy. The most lucrative market to bet when considering US politics are the party primaries, the Democratic and the Republican Primaries.
These two races decide the final two candidates poised to battle it out for the White House. Primaries are done state-by-state through all 50 states but with varying processes per state so understanding a bit about this process can be helpful.
Other political environments do occasionally catch a punt on the largest bookmaker sites but typically only if that political event is catching more attention than normal.
Irish politics catch a few punts around election season as a lot of top bookies operate out of Ireland a massive resource for Irish political betting. Scottish political markets pop-up as well from time to time due to their close ties with England and incorporation in UK politics.
Political betting for other large governments like France and Germany are certainly offered but don't garner the attention or potential winnings the other more popular markets offer. In terms of strategy, it's best to avoid these lesser-known markets as research on them is limited and can impact your wagers.
One of the most important factors when considering a political betting strategy is the timing of the punt. Elections are held all throughout the year, some only occurring every couple years while some annually. For example, the US runs it's presidential election every four years but has local, state, and other federal elections often.
Jumping on an early underdog in the general election can produce a huge return and only takes getting a head of rising star, like the 2016 election's dramatic rise of Donald Trump to front-runner, but finding an underdog in a quick turnaround race can be tough and risky.
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