In the just-concluded general elections, the former president Donald Trump has just lost to his opponent, Joe Biden. Now, back to our question, do you think it is legal to bet on presidential elections in the US?
Yes is our simple answer here. As we speak now, thousands of punters are smiling all their way to the bank after betting on Joe Biden to win.
One British participant just placed a stake of about $1 million on a victory for Joe Biden. According to Pete Watt – the public relations manager of Oddschecker, the Betfair Exchange had a whopping $634 million worth of wagers in this year’s election.
The US has a long history of betting on presidential elections. Let’s address some of the things you need to know about betting on presidential elections in the US
US Gambling and Betting Laws
Today, many states have legalized online gambling including presidential betting and political betting in general. For example, West Virginia was the first state to legalize betting on political races. However, it made a quick U-turn on the decision, because it was breaking the 1868 state law.
Since betting on the presidential election isn’t regulated at the state level, several gambling institutions such as sportsbooks have been allowing US bettor to wagers on presidential races. However, these gambling sites are legal and regulated from the locations where they are based, no laws are there to criminalize their operations.
Presidential Election Betting in Vegas
While it’s legal to place real money wagers on all sorts of sporting events in Las Vegas sportsbooks. However, you won’t find any sportsbooks in Vegas offering wagers on the presidential election since it is explicitly forbidden.
Can You Gamble on Other Political Elections Legally?
Apart from letting gamers bet on presidential elections, many bookmakers and gambling sites in the United States also offer different betting markets related to other political events. You can wager on political events from different regions such as Europe, Australia, Canada, and so on.
We are hopeful that the explanations given on this page have addressed all your concerns regarding whether it is legal to bet on the US presidential elections.