Bookmakers have posted record-smashing volumes of wagers placed by bettors on the recently finalised 2020 U.S. Presidential election. So much so, that this year’s election has emerged the biggest political betting event in the history of the U.S. elections.
The 2020 U.S. Presidential election set a new record for election betting, with unprecedented volumes of wagers placed.
Since betting on political outcomes is illegal across the United States, the focus was this year once again on betting enthusiasts situated in the U.K. as well as in several other parts of regulated Europe.
Global betting giant Betfair confirmed having accepted a whopping £600 million in wagers placed ahead of the elections. 3 million individual wagers were placed ahead of the 2020 elections.
Betfair furthermore confirmed having taken a giant-sized £1 million (US$1.32 million) bet on Biden being voted the new president. The lucky punter gets to bank an incredible £1.54 million (US$2 million) in betting returns following their successful prediction of the outcome.
The majority of bookies across regulated Europe as well as the U.K. wasted no time moving their money-lines in favour of a Joe Biden-win.
Betfair, for one, emerged spot-on in its prediction of 290 electoral points in favour of Joe Biden – a prediction that ultimately proved only 6 points more than the actual outcome of 284.
Sports betting sites around the world saw a surge in activity as punters eagerly followed the political developments, particularly in the U.K. and Europe.
Another on-the-money prediction posted was that of Nate Silver’s FiveThirtyEight – pegging a Biden win at a likelihood of 88%, while the Economist magazine emerged even closer to the hottest of spots with their 96% prediction in favour of Biden being elected the 46th President of the United States.
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More About Gary Hicks
When it comes to knowing what’s going on, on the track, field or any other sporting arena, Gary Hicks is your man. With an almost unrivalled passion for journalism, sports and betting Gary decided to combine his love of all 3 and share his expertise with the world.
In the last few years Gary has risen through the ranks and prides himself on always keeping a finger on the pulse of what’s hot and happening in the sports betting world. Gary is the resident news expert at OnlineBettingNZ.co.nz and his articles make for invaluable fodder for any avid punter.
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