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Best Betting Odds for the US Election

Last Updated on 07/05/2024
Fact checked by: Jordan Noble

Politics has become big business lately. While politics is a little beyond our usual scope of topics here at Betting.co.uk, we do have some experts who follow American politics closely and can give you advice when it comes to betting on the US presidential election in 2024.

Here you’ll discover that understanding US presidential election odds is simple. Understanding US election odds and getting bookies with best odds is part of the process of political betting, and you’ll know that following the news, especially polls, is a great way to sharpen up your strategy.

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Why Should You Bet on US Politics?

If you’re based in the UK you might well be wondering why you should bother trying to find US presidential election odds instead of betting on England to win the Euros. Betting on any kind of politics can offer a bit of entertaining variety to punters who are more used to betting on British politics or betting on sport. The thing about politics, though, is that finding odds and calculating probabilities is not too different to finding cricket betting odds or the best football odds.

How the US Presidential Election Works

If you’re looking to find some betting odds for the US election then you need to have a pretty solid understanding of how the election works. The US president is not elected by popular vote but rather by the Electoral College. This is where each state votes individually for their preferred candidate. The candidate that wins a state then receives that state’s Electoral College votes. Each state has a different number of Electoral College votes.

This system may seem unusual to European eyes, but it was put in place to ensure that smaller, more marginalised states were not steam-rolled by larger states when it came to determining who becomes president of the country. There is some concern in some quarters of the American electorate that this system is an anachronism and needs changing, but that is a debate for elsewhere. If you’re looking for betting odds for the US election you do need to understand the Electoral College.

How to Understand the Odds on the US Election Betting Market

Looking for a UK bookmaker for US presidential election? While you might expect the US presidential election odds to be automatically presented in the American format, this is not the case at UK bookmakers. Indeed, when they are checking out US election odds, sportsbet punters will see the odds presented in the same way as they are for basketball betting odds or similar. When you’re weighing up betting odds for the US election you will see them presented just as though you were about to place a bet on an outright market in soccer, cricket, rugby union or any other sport. Just in case you are a complete novice to the world of betting, we will explain how each format of odds works here for you.

Fractional Odds

If they’re British or Irish, US election odds sportsbet punters will see the odds written in a conventional fractional format, like 2/1 or 3/2. This a direct reflection of the probability of an event taking place, and many people find this format of odds very easy to understand. Fractional odds are ratio of your stake compared to the amount that you might win. So if you bet £10 on a 2/1 market and your bet wins you will receive £30 back (£20 winnings plus you £10 stake).

Decimal Odds

Decimal odds are a very simple odds format that US election odds sportsbet punters will see if they live in continental Europe rather than the UK or Republic of Ireland. The number that you see – 3.0, 4.5, 6.2 or whatever – is the amount you win for every £1 wagered. This makes calculating winnings very simple, and increasing numbers of British and Irish punters are using this format where they have a choice. This is probably the format you should use if you are new to betting and want to better understand the probabilities behind US presidential election odds.

American Odds

While one might expect all presidential election betting odds to be written in the American format, this is not the case. This is probably to the relief of many UK punters, as American odds can appear a little baffling at first. The odds for favourites in America have a minus sign next to them, while the odds for underdogs have a plus sign. The number for favourites indicates what you have to stake to win £100, while the number for underdogs represents the amount you’ll win for every £100 you stake.

If that makes betting odds for the US election seem a little tricky to understand, here is an example. For US election odds, sportsbet punters who usually bet on American sport may find this easier. If we have a college basketball game between Notre Dame and Duke then you might see the following moneyline odds: Notre Dame +585, Duke -760. This means that if you bet £100 on Notre Dame, you’ll win £585 plus your £100 stake. If you wager £760 on Duke, you’ll win £100.

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How to Find the Best Odds for the US Presidential Election

When they’re looking at the US election odds at the latest online gambling websites, sportsbet punters will find themselves on pretty familiar ground. US presidential election odds work in the same way that the odds for sporting events work. This means that you need to use your political rather than your sporting knowledge to prepare and plan your bets, but the actual process of researching your wagers is pretty much the same.

When you’re weighing up betting odds for the US election then the process is not that different from weighing up the best UFC odds, or the odds on a tennis match. You have two individuals going head to head, each of whom has their own strengths and weaknesses as a candidate. When you are weighing up those strengths and shaping a betting strategy it is a good idea to put your personal political biases to one side. That will help you make a more objective judgement as to whether the odds represent good value or not.

Possible Betting Strategies for the US Presidential Election

When it comes to betting on politics, there can never really be any hard and fast rules. Politics by its nature is a volatile beast, and placing a US election odds sportsbet is often riskier than a normal bet on sport. There are so many factors that you need to take into account. The number of variables is huge, and there is always the likelihood that a new event or crisis will throw your strategy into jeopardy as public opinion changes.

Bet on who will be named as president

The most obvious way of using betting odds on the US election is to place a bet on who will become president at the end of election night. This is by far the simplest and most straightforward way of betting on this election. It should be a very straightforward type of prediction bet. But nothing is ever as simple as it might first appear in American politics.

Of course, the outcome of elections in the United States can hinge on things that look pretty strange to British punters. The voting machines that UK electors use to vote in elections have caused problems when it comes to counting results in the past. In the 2000 US Presidential election, when George W. Bush ultimately defeated Al Gore, the world learned the meaning of the phrase ‘hanging chad’. These bits of cardboard proved crucial to the outcome of the election.

The result was only determined in the end thanks to the US Supreme Court. Events like this are often surprising and can produce a shock result. It might be a good idea to remember that the unexpected can often play a significant role in US elections, especially given the way that more eccentric behaviour from candidates has become increasingly common in recent years.

One of the quirks of the US presidential election is that whoever gets the most votes does not necessarily win the election. Instead, the result is determined by the Electoral College, which is something that we explained elsewhere in this article. This means that keen-eyed punters who are looking for betting odds for the US election may well find some good value on offer in markets where you can wager on the result of the popular vote.

In 2016, Hilary Clinton actually beat Donald Trump in the popular vote, but still lost the election due to the Electoral College. When they’re looking for good US election odds, sportsbet punters might therefore find some good value by checking out the markets that relate to the popular vote rather than the actual result of the election.

Bet on who will win a specific state

One of the more important features of the US Presidential Election is that each state is a separate voting bloc. This means that local battles can play a significant part in determining the overall outcome of the contest. There are some key battleground states in the 2024 election that could go a long way towards determining the overall result. Some of these states include Arizona, Florida, Maine, Michigan, Minnesota, Pennsylvania and Wisconsin. It is worth keeping an eye on the next US presidential election odds for these ‘swing states’, as they are termed.

Bet on a candidates’ antics

This might well be a particularly wise bet in 2024, given the quirks of Donald Trump and Joe Biden. Some bookies in 2016, for example, were offering odds on how many times Trump might utter a certain phrase. Biden is also known for his occasionally eccentric way of speaking. If you see US presidential election odds for slightly unusual markets like this, then 2024 is a good time to back them. It might just be the most sensible bet going in what is sure to be a weird election.

Conclusion

As you can see, finding the best US presidential election odds and coming up with a winning strategy are pretty much the same as formulating a strategy for betting on sport. Finding good betting odds for the US election follows a very similar template to that which sports bettors will be used to. So when it comes to US election odds, sportsbet veterans should find themselves in a strong position. When you are looking for good value US presidential election odds you need to consider the behaviour and campaigns of each candidate, which specific markets you want to bet on, and have a good working knowledge of how bookies set odds. We can help you with the latter with our betting guides and articles here at Betting.co.uk!

Need tips on where or how to bet? You've come to the right place! Take a look at our Ecopayz bookmakers guide or Gambling for Real Money page for a good place to start.

US Presidential Election Odds FAQs

❓How do you win the US presidential election?

You can find the answer to this question if you look at our politcal betting articles at Betting.co.uk. What you need to remember is that the result is not determined in the same way a British general election, where electors vote for candidates in their own local areas, with these results then shaping which party wins an overall majority in Parliament. The US presidential election is essentially two individuals going head to head, though they are backed by their political party.

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