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Politics The US election is likely the most bet-on event in history

06:50  31 october  2020
06:50  31 october  2020 Source:   cnn.com

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Americans aren't the only ones obsessed with next Tuesday's vote. British bettors are wagering a record amount of money on the US presidential election , dwarfing the amount wagered on any sporting event or even their own nation's politics.

The United States holds its federal elections on the first Tuesday after the first Monday in November. The President of the United States is elected to a four-year term. Each of the 435 seats in the United States House of Representatives are elected to two-year terms.

Americans aren't the only ones obsessed with next Tuesday's vote.

a man wearing a suit and tie: WASHINGTON, DC - OCTOBER 27: A man casts his ballot at an early voting center at the University of the District of Columbia on October 27, 2020 in Washington, DC. Early voting for the 2020 general election starts today in Washington, DC at 32 polling locations across the city and runs through November 2. (Photo by Sarah Silbiger/Getty Images) © Sarah Silbiger/Getty Images WASHINGTON, DC - OCTOBER 27: A man casts his ballot at an early voting center at the University of the District of Columbia on October 27, 2020 in Washington, DC. Early voting for the 2020 general election starts today in Washington, DC at 32 polling locations across the city and runs through November 2. (Photo by Sarah Silbiger/Getty Images)

British bettors are wagering a record amount of money on the US presidential election, dwarfing the amount wagered on any sporting event or even their own nation's politics.

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In the electoral college system the US uses to elect its president, each state is given a number of votes based on how many members it sends to FiveThirtyEight, a political analysis website, says Mr Biden is "favoured" to win the election , while The Economist says he is "very likely " to beat Mr Trump.

This page links to the results of those historical elections , including a larger map, results and synopsis of the race. An interactive version of each map is also available, letting you change history . To view maps and results from all prior presidential elections on a single page, see this historical elections

As of Wednesday morning, £220 million, or about $284 million, had already been wagered on the Betfair Exchange, said Darren Hughes, a spokesman for Betfair. The London-based company operates the world's largest online betting exchange.

Americans can now legally wager on sporting events in many states, but it's illegal to wager on elections, either here or in the UK.

The amount of money wagered on this year's US election already tops the previous record of the £199 million bet on the Trump-Clinton race four years ago. The greatest bet on any UK election was the £113 million on the 2016 Brexit vote.

Betfair is predicting the amount wagered for the US election will ultimately top £400 million.

"You can't overestimate how big the president's profile is in the UK. The betting interest has extended beyond political gamblers," said Pete Watt, public relations manager for OddsChecker US, which provides advice and information to gamblers.

Betting Info - Tennessee - Yahoo Sports

  Betting Info - Tennessee - Yahoo Sports Tennessee is a landlocked state known for the Great Smoky Mountains — a part of the Appalachian Mountain chain — and the vibrant tourism and music scene of Nashville, home of the Country Music Hall of Fame and Museum. Tennessee has no casinos or racetracks, though in 1987 it tried to enter the horse racing space that included wagering with the Racing Control Act, but it was never fully implemented and it was repealed in 2015. Is it legal to betTennessee is a landlocked state known for the Great Smoky Mountains — a part of the Appalachian Mountain chain — and the vibrant tourism and music scene of Nashville, home of the Country Music Hall of Fame and Museum.

As an alternative to interpreting infinite United States election polls and the opinions of dozens of media Donald Trump flipped the script with the biggest political upset in history and if you were one of the While picking the winner of the 2020 United States election is the most popular prop bet to

Some historical perspective on election betting. Paul Rhode and Koleman Strumpf put together an NADEX wanted to offer the trading of political event contracts (effectively betting on political The principal obstacle for wagering on elections in the United States rests at the state level, like with

The betting will continue until a clear winner is announced, said Hughes.

"If, as some have predicted, the counting goes on for days or even weeks, we will continue to leave the market open," Hughes said.

Betfair is one of several exchanges in the UK, though it is the largest, said Watt. Other exchanges and various sports books are also taking bets, which means the amount wagered could be even greater than the £220 million figure, Watt said.

The amount wagered on the US election to date is more than the combined wagering on Betfair for the four most bet-upon sporting events: the 2017 Floyd Mayweather Jr. vs. Conor McGregor boxing match, the 2018 World Cup, the 2019 Grand National horse race and the 2020 Super Bowl.

In the presidential race, those taking their chances on President Trump are getting much better odds. A £10 bet on the incumbent will return a profit of £18.80 if he wins, versus £5.26 on challenger Joe Biden — essentially giving Trump a 34.8% chance of winning.

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After polls close in the US presidential election , it could take days or even weeks to find out if Joe Biden or Donald Trump has won. The result of the election is usually called on the night of election day, which this year is 3 November. Different states stop voting at different times.

An election for president of the United States happens every four years on the first Tuesday after the first Monday in November. During the general election General Election : a final election for a political office with a limited list of The candidate that gets more than half (270) wins the election .

Still, those are better odds for the president than some US forecasters are giving him. As of Friday morning, the political prediction site FiveThirtyEight.com had Biden with an 89% chance of winning the vote.

Watt said the long odds on Trump are pulling in a lot of people who are betting on the president. Twice as many individual bettors are putting their money on Trump than on Biden, he said — though more money, and larger bets, are being wagered on Biden.

The winning bet will be who becomes the next president, not who wins the popular vote.

The wagering on this year's election started with the presidential primaries, with odds on the many Democratic candidates constantly changing. After Biden finished a distant fifth in this year's New Hampshire primary, the odds available to bet on him stood at 100-to-1, Watt said.

British bettors are already wagering on the 2024 presidential election, with the odds giving Biden and Vice President Mike Pence equal 16.7% chances of being elected president that year.

Democratic Vice Presidential nominee Kamala Harris is next with a 14.3% chance based on current odds, followed by Rep. Alexandria Ocasio-Cortez, with a 5.9% chance, Watt said. After that comes former South Carolina Governor Nikki Haley with a 5.3% chance.

And the odds give President Trump — if he loses this year — a 4.8% chance of being elected again in four years. If that happens, he wouldn't be the first president to serve non-consecutive terms: Grover Cleveland did that as the nation's 22nd and 24th president.

Will the Supreme Court ride to Donald Trump's rescue? Don't count on it. .
The 6-3 conservative majority that Trump and Senate Republicans engineered over the past four years likely is in no position to save his presidency. It would take a razor-thin margin or a major legal dispute in a state whose electoral votes could hand the White House to Trump or Democrat Joe Biden. Such a reprise of the Bush v. Gore case in 2000, when the court ruled 5-4 along ideological lines that vote recounts in Florida had to stop after a month-long dispute, is not anticipated. © Mark Hoffman, Milwaukee Journal Sentinel/ USA TODAY Network Workers process ballots Tuesday, Nov.

usr: 1
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