How to Bet on the U.S. Presidential Election

The 2024 U.S. Presidential Election is upon us, and the betting action is heating up. If you’re looking to get in on the political betting game, here’s a breakdown of popular betting markets, along with some insights on how the odds work.

Here’s a selection of the available options available on Sports Interaction’s US Election Odds board.

Election Winner

The most straightforward bet is on the outright winner of the election. This is just like betting on who will win an NFL game—only this time, the players are politicians. Right now the odds are:

Donald Trump: -155 (favoured to win) Kamala Harris: +130 Chase Oliver, Cornel West, Jill Stein: +100000 each (extreme long shots)

So, what do these odds mean? Trump at -155 suggests he’s the favourite, with a stronger likelihood to win in the eyes of the bookmakers. If you bet $155 on Trump and he wins, you’d earn $100 in profit. On the flip side, Harris at +130 means you’d make $130 in profit on a $100 bet if she wins.

As for the long shots, you’d score a massive payout if any of them pulled off a surprise win, but their odds show it’s unlikely.

Keep in mind, these are just the odds in this moment, and they can change quickly.

Winning Party

This market lets you keep it simple by betting on the party instead of the candidate. Here’s how it looks:

Republicans: -155 Democrats: +130 With Republicans favoured, this option works like the outright winner bet but is based on which party wins, not the specific candidate.

Electoral College Votes

If you’re looking for something a bit more strategic, you can bet, for example, on how many Electoral College votes Kamala Harris will win. This market works like an over/under prop bet in sports. Here are the current ranges:

179 or less: +5000 180-209: +1600 210-239: +300 240-269: +250 270-299: +275 300-329: +400

Let’s say you think Harris has a decent chance but won’t get a landslide. You might choose the 240-269 range at +250, meaning a $100 bet would earn you $250 if she lands in that range.

Popular Vote Winner

Another fun option is betting on the Popular Vote Winner—who will get the most individual votes across the country, regardless of the Electoral College. Here are the odds:

Democrats: -400 (heavily favoured) Republicans: +300 Any other not listed: +20000

Democrats are heavily favoured here, meaning bettors expect them to pull in more overall votes, even if that doesn’t translate to an Electoral College win. Betting on “Any other not listed” is a huge long shot with a potentially massive payout if a third-party candidate surprises everyone.

Betting on Which Party Will Win the Most Seats

If you’re looking to go beyond the presidential race, you can also bet on which party will win the most seats in Congress. This type of bet lets you predict the overall control of both the Senate and House of Representatives, giving you a stake in which party will dominate Capitol Hill. Currently, Republicans are slight favorites at -125, meaning you’d need to bet $125 to win $100 if they secure the most seats.

Democrats, on the other hand, are at +100, which gives you even odds—bet $100 to win $100. This market can be an interesting option if you believe the general momentum favours one party in both chambers of Congress.