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Nevada has long had Regulation In , the Nevada Legislature attempted to allow wagering on elections, but it did not pass. No attempt has been made since then. Sports Betting. Best Books. Pictured: Donald Trump. Darren Rovell. Download App. Pictured: Woodrow Wilson circa Fast forward today, and political betting is still not legal in the United States, even as legal online sports betting continues to expand.
No other legal state has approved political betting, either. Bakhshi shares the same sentiment. Top Offers. Bet Over 0 in Lakers-Nuggets. Plungers on Intrade, a now-defunct Irish betting site, called 49 of 50 states correctly in and nailed 47 states in Betting on elections in the U.
But gamblers in Europe bet heavily on U. More on these sites in a moment. Gamblers have an edge over pollsters, says David Rothschild, a Microsoft researcher who runs PredictWise. After all, when you actually put your money where your mouth is, you tend to be careful. In the U. That market has generally been more accurate than polls in a wide swath of executive, legislative, national and local elections. The betting markets are far from infallible.
Most pollsters, meanwhile, accurately predicted both events. As everyone who has ever played the ponies knows, sometimes a long shot wins. And Trump is hardly a long shot at this point in the campaign, and, of course, things could change quickly for many reasons including the outcomes of the remaining presidential debates. Interested in investing in the election markets? Full disclosure: I've placed wagers on a Clinton victory on this site.
But the website, in the midst of a much-needed update, is a bit confusing to navigate. Plus, you have to mail in a check before you can place a bet. Historically, gambling on election outcomes was common in the U.
By the late s, semi-formal election markets operated, and newspapers published the odds daily. But in the s, New York City, where the election gambling was centered, cracked down on unauthorized gambling, and it went underground. Not that you should ignore the polls. My advice: To have the most accurate perspective on the race, consult PredictWise. Steve Goldberg is an investment adviser in the Washington, D. Skip to header Skip to main content Skip to footer.
Home investing. If you want to know who will win the presidential election on November 8, look at how the gamblers are placing their bets The polls predict a squeaker. Politics investing bonds. Most Popular.
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