Interesting website regarding political betting odds

Discussion in 'Miscellaneous' started by Stephen, Dec 15, 2021.

  1. Stephen

    Stephen Administrator Staff Member

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    Some say that political betting odds can sometimes if not often be more accurate than polls for a variety of reasons. I think there is some credibility about that.

    Remember though that gambling on political outcomes such as this are a sucker's game similar to the horse race track, sports betting, stock market day trading, etc. You may believe that you can handicap the winner, and the odds do provide an indication of what has the better chance of winning. However the house edge, bookie's juice, vig or whatever it is called, makes it impossible to beat these gambling games, and that includes wagering on political elections.

    So for example right now as of this post, just because the betting odds say that Republicans have an 80% chance of taking back the House, doesn't mean that you can make money in the long run betting on propositions such as this. Yes, you will win a number of these type of bets with odds at 80%, but you will lose some as well, with the gambling house takeout grinding down your bankroll to zero sooner or later.

    So while enjoying these political odds for entertainment purposes, and perhaps a better indication of an election outcome versus polls, keep in mind that it is fool's folly to try to make money betting on it.

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