Betting on the American Presidential Race can be extremely profitable. Your best odds of success will be betting on a state-by-state basis. However, we’ll cover that after we cover the presidential race itself.
As of right now, Barack Obama is favored to retain his presidency. That said, this is going to be a much tighter race than most people anticipate. Obama promised to cut the deficit in half when he first got elected. Since that time, the deficit has ballooned to unsustainable levels. He claimed the economy was “doing fine,” which was likely a reference to his friends in the big banks and on Wall Street. If you ask the average worker on Main Street, the economy is far from doing fine. Obama believes in free money and handouts, which those against socialism don’t appreciate. On the other hand, many people like Obama’s overseas policies because he’s always thinking of diplomacy before war. This has been a nice relief compared to George W. Bush.
Mitt Romney might not be the best candidate in the world, but he has proved his business acumen on many occasions. He doesn’t believe in free handouts, and he wants to bring back work for welfare. He’s tough on immigration and Iran. Overall, Romney is the better candidate for improving the economy, but his hardline approach to international relations is somewhat scary. This has left many voters on the fence.
What many people don’t know is that Goldman Sachs has their money behind Romney. In 2008, they had their money behind Obama. Goldman Sachs has more power than any other company on Wall Street, if not the entire country. Put simply, they don’t like to lose, and they don’t lose often. For that reason alone, Romney is a good underdog bet.
If you want to bet on a state, then there are a few things to keep in mind. The most important fact is that the states in the Deep South like Alabama, Georgia and Mississippi will always vote republican. Don’t put a longshot bet on a democrat in any of these states. You will lose. Big business states in the Northeast and on the West Coast like New York, California and Massachusetts will always vote democrat. Don’t place any longshot bets on a republican in any of these states. The swing states like Florida, Ohio, North Carolina and New Jersey are the best places for underdog bets.
If you have the guts and bankroll to do it, your best bet will be taking heavy-favorite states where you have to lay 100 pounds to win one pound. Of course, you will want to lay much more to get a good return.
American Presidential Race Betting
Most online betting sites have a novelty or unusual betting section and the American Presidential Race is featured on most, Paddy Power have markets on winning candidate, winning party, Electoral College Votes and Election States.