Question of the Day - 05 November 2019

You fail to say why they aren’t taking bets. 

You’re correct that U.K. books are offering odds so if someone wanted to place a large enough bet would the book accept it and refer to the U.K. odds or are they (legally perhaps) actually incapable of booking bets for a reason? 

The simple answer is elections are not a sport. 

Of course, that’s more of an excuse than a reason. Particularly when it’s been said that bets on the Oscars are not allowed since someone knows the results before the broadcast. The same can’t be said of elections. 

The NGC is way behind the times on this. Yes, it's not a sport. So what? If other countries allow their sports books to bet it, why can't we? Because the NGC has their heads up their asses (as usual). From what I gather, the books in Vegas would love to be able to book bets on the election. Have to believe they'll come around on this eventually, but only after XXX much money has been wagered by Americans off shore. Remember when it was still illegal to so much as possess a cell phone inside a sports book? Seems ridiculous now, looking back on it, doesn't it? This will one day too.

That conceivably, with large enough bets and/or the proper influence, outstanding wagers could affect the outcome. While this is perhaps a remote possibility, we've already seen one disastrous election outcome and don't want another.

It also might be that wagering on ANYTHING was technically illegal back in the day and only grudging, gradual, limited exceptions have been made over the years. I can guarantee that if billionaires and big corporations could contrive a way to make money from election gambling, not only would it be legal, we'd have a holiday devoted to it.

Gambling in the USA is heavily regulated by state and federal government. That means various politicians have a say in how it is done. Casinos never don't want to upset the apple cart by provoking politicians. If casinos accept bets on political elections some politicians would see this as threatening in some way and move to add even more regulations. Casinos enjoy a cozy relationship with regulators, especially in Nevada, since it brings in so much money for the local, state and federal government. So casinos are going to be cautious when it comes to betting on politics. Here is one take on it:

"Is Betting on Politics Legal in the United States?"
https://www.sportsbettingdime.com/guides/how-to/bet-on-politics/

Predictit.org allows for small bets on a variety of political events --- limited to $850 per market. There are often correlated bets available, so if you want to bet for (or against) Trump or any other candidate, there are a variety of ways to do it.

Since they are sponsors of the "Gambling with an Edge" podcast, you can sign up for a $20 match offer at predictit.org/promo/edge

Limited to once per person, you must play the money through once, and you must wait at least 30 days before withdrawal

           

You still crying over the 2016 election?  Go home and put your big boy pants on.  Wait, you better not because you would probably wet them if Trump wins again in 2020!!

...then the answer is in Nevada Gaming Regulation 22.1205(3):
"No wagers may be accepted or paid by any book on the outcome of any election for any public office both within and without the State of Nevada."

Note, however, that, going by a strict reading of the rule, they may be allowed to take bets on who will get the Democratic nomination, since that is not decided by "an election for public office."

Thanks for that clarification, Don Guy!

Kevin was referring to 2008!