Why Can’t I Bet on the Presidential Debates & Election?

Why Can’t I Bet on the Presidential Debates & Election

A little over a month ago, when the battle for the Democratic Party’s nomination for President was very much still alive, bettors at New Jersey’s sportsbooks were able to place wagers on what Bernie Sanders and Joe Biden would say during their March 16 televised debate. While that was an innovative idea, if you would like to be able to place a bet on November’s election and the lead up debates, just hold that thought for a moment.

Nj's Top SportsBooks

Betting Site
Bonus
Brand Features
Review
Bet Now
888Sport
$500 Free Bet
$500 Free Bet
Read Review
Sugar House Sportsbook
100% Up to $250
100% Up to $250
Read Review
FanDuel
Get A Risk Free Bet up to $500
Get A Risk Free Bet up to $500
Read Review
William Hill Sportsbook
Get up to $500 Free Bet
Get up to $500 Free Bet
Read Review
Borgata Sports
Risk Free First Bet up to $250
Risk Free First Bet up to $250
Read Review
BetMGM Sports
Deposit Match Up To $500
Deposit Match Up To $500
Read Review

Don’t Bet on Betting

As gambling on all manner of sports and competitions from Ukrainian Table Tennis, NASCAR iRacing and the horses in Hong Kong becomes legal in more places across the nation, to date not a single state or U.S. territory permits people to wager on political primaries and caucuses, or anything to do with elections. Even though political betting is not explicitly barred in most states, you shouldn’t bet on that changing before November’s Presidential showdown between the incumbent Donald Trump and the Democratic Party nominee, Joe Biden.

But why not here too? Gambling industry experts estimate that in Europe, the U.K., Australia. South Africa, New Zealand and other licensed and regulated sports betting markets estimate taking in as much as 20-to-25 times as much money on the U.S. Presidential Election every four years as the legal U.S. sportsbook annual Super Bowl handle.

Political betting is still not a legal past time in the United States, even as legal online sports betting continues to expand with up to 20 states already finding in favour of sports betting. However, it is still the early days (remember, it is still less than 2 years since the U.S. Supreme Court gave sports betting the thumbs up and back to the states to administer), but that said, betting on politics has been allowed to operate in pockets on occasion.

The Commodity Futures Trading Commission (CFTC) in 2013 shut down ‘InTrade’ which made betting markets available for Americans during the 2012 Presidential Election that saw Barack Obama successfully pitted against Mitt Romney. The site took in $230 million during that campaign.

Fast forward to 2014, and the CFTC did permit another site called ‘PredictIt’ to take bets on elections, providing the business was run through a university and instituted a maximum bet of $850. Now, however, the landscape has changed with legal sports betting in so many states. If U.S. sportsbooks begin to offer betting lines and odds on the most widely covered competition of them all, the betting handle could dwarf anything we have seen in the past.

“The handle would be astronomical,” remarks Vegas oddsmaker John Murray. “It’s just something that everyone has an opinion on. Everyone thinks they know about it more than the next guy. It’s such a polarizing topic, even more than sports.”

The political betting rejection from the CFTC

The Commodities Exchange Act permits the CFTC to reject the offering of gaming if one of five conditions are satisfied:

  • Activity that is illegal under any Federal or State law
  • Terrorism
  • Assassination,
  • War and;
  • Other similar activity determined by the Commission, by rule of regulation, to be contrary to the public interest.

The CFTC argue that many states explicitly ban wagering on elections under their own state laws, and even could go as far as saying it is against public interest.

What the future holds for Political Betting

If the shock overturn by the U.S. Supreme Court back in May 2018 giving sports betting new life taught us anything, don’t give up on political betting going the same way with a similar legalization surprise this fall.

It may all boil down to the major sports leagues like the NBA, NHL, NBA etc rebooting for their forthcoming seasons. If they don’t, suddenly placing a wager on Joe Biden to defeat Donald Trump at long odds with your favorite NJ sportsbook may quickly become reality.

NJ Legal Betting Sites

Betting Site
Bonus
Brand Features
Review
Bet Now
888Sport
$500 Free Bet
$500 Free Bet
Read Review
Sugar House Sportsbook
100% Up to $250
100% Up to $250
Read Review
FanDuel
Get A Risk Free Bet up to $500
Get A Risk Free Bet up to $500
Read Review
William Hill Sportsbook
Get up to $500 Free Bet
Get up to $500 Free Bet
Read Review
Borgata Sports
Risk Free First Bet up to $250
Risk Free First Bet up to $250
Read Review
BetMGM Sports
Deposit Match Up To $500
Deposit Match Up To $500
Read Review
Caesars Sportsbook
First Deposit Bonus up to $300
First Deposit Bonus up to $300
Read Review
BACK TO TOP