2020 was the Most-Betted-On Election in History

By Austin Miller

The eyes of the entire world were watching the results trickle in last week. With bated breath, not just people in the United States, and not just people interested in politics, were wondering what the world would look like, and when we would know. 

This was obviously one of the tensest elections in a long time. And the extended period of slowly leaking out results was like an action movie. The drama and the extension were strung out for as long as possible, it seemed. This only raised the stakes more and more. 

So it is no wonder that this year’s elections were the most-betted-on in history. Millions of dollars exchanged hands when the results were finally known. In fact, it was the most betted event in history. Period. 

Different Types of Bets

With so much excitement and wildly different projections, there wer plenty of people who assumed they knew something no one else did. Some were on the lookout for the “Shy Trump Voter,” for example. 

Bookies knew that many were excited about it, so they made a lot of different types of bets available for their customers. In Bovada, for example, you could bet not only on the winner of the entire election but also on the winner of each individual state. So you could bet on Biden to win it all, but on Trump to win Florida, for example. 

Let’s hope this level of detail sticks around in political betting for some time to come. 

This whole campaign has been full of fun betting opportunities. At one point, you could have bet on whether or not Donald Trump would pardon the Tiger Kind. These are strange times indeed! You could also bet how many times Trump would call his opponent “Sleepy Joe” during the debate, whether or not he would get kicked off of Twitter, and many other strikingly unique bets.

Big and We Mean Big Bets

When we say a lot of money was placed on this event, we mean a ton of moolah! Over one billion dollars was bet on this event, by some measures, surpassing all other betting events ever! 

One bettor placed $27,000 on Trump to win. Because Trump is disputing the legitimacy of the election, the bettor requested a refund. Neither the courts, nor Trump’s Republican colleagues, nor the sportsbooks are going along with this narrative. 

At BetOnline, over 70% of the money they received was wagered on Trump to win. This may come as a shock because Biden was the overwhelming favorite according to pollsters. Many are expecting an upset. Smelling an upset is a good way to make some extra money. 

However, as we now know, Trump did not prevail. If he had, BetOnline would have lost millions of dollars. But for now, the votes have come in and Biden has won both the popular vote and the electoral college. 

Other Politics Betting

Of course, US Presidential elections are not the only politics you can bet on. They may be the most likely to grab worldwide headlines, but there’s no reason you can’t have just as much fun betting on politics from other countries.

In fact, when you bet on politics in the UK, for example, you may have an advantage. Because fewer people are paying such detailed attention, you can study up and gain an advantage. We could make the same recommendation for French politics.

As with all betting, the biggest headline competitions are not always the best bets. In fact, for this very reason, they can be the hardest to gain an upper hand.