COVERS PREDICTS The 2020 presidential election will be the biggest political betting event in history
LAS VEGAS, Nevada, Oct. 6, 2020 /PRNewswire/ -- With one month to go, and an epic presidential debate in the books, November 3rd is shaping up to be a historic day for bettors.
If you thought election betting was huge four years ago – and it was, without question – then brace yourself for the final month of the 2020 U.S. presidential election. To put it in the words of Bachman-Turner Overdrive, "You ain't seen nothing yet."
Covers' Senior Writer Patrick Everson spoke with Matthew Shaddick, Political Trader at Ladbrokes, Jay Kornegay, Executive Vice President of Race and Sports at the Superbook at Westgate, and other well-connected members of the sports betting industry about what to expect leading up to November 3rd.
"Just talking to others who have booked the election, they've been saying for years that the presidential election handle would dwarf the Super Bowl," Kornegay said. "And when I say dwarfs, I've heard 10 to 15 times the Super Bowl numbers. More people have political opinions than sports opinions. You're reaching a bigger demographic".
Since political betting is still illegal in U.S. jurisdictions, American bettors who want to get involved will continue either trekking to Europe or looking to the offshore market.
"The odds, like the polls, have actually been very stable over the last few months," Shaddick said. "The odds are giving Trump a much better chance than the polls would imply". "As far as the betting goes, it's all Trump. His supporters seem to be able to ignore or dismiss all the polling evidence" he added.
Across the pond at Ladbrokes, Shaddick said betting was suspended "until we get a bit more reassurance about Trump's health status" in response to the huge news late Thursday night that the president and wife Melania Trump tested positive for COVID-19.
Trump vs Biden. Who's the smarter bet? Time will tell but one thing is for certain: it will be a record handle for political betting.
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