Betting on the Presidential Election: Legalities and Strategies in Las Vegas

The presidential election is predicted to be one of the most closely watched and hyped events in American political history. Las Vegas, known for its casinos and betting culture, has long been a hub for placing wagers on various events. However, betting on the presidential election presents unique challenges and legal considerations.

Vegas Election Odds

According to current odds at two online betting sites, Donald Trump has odds of 130-135, and Joe Biden at -160. On another site, these odds remain the same. Also, our source mentions that Hillary Clinton has odds of 10,000 to 1 and Kanye West at 50,000 to 1. This shows a stark divide in the betting community in favor of one candidate.

These odds are based on speculative assessments and will likely change as the election approaches, reflecting the shifting dynamics of voter sentiment. Eighty-nine days before the 2020 elections, it will be fascinating to observe how both candidates strategize their campaigns, especially in light of the ongoing debates and public forums.

Predictit and Real Bet Trading

While one may think of betting as a straightforward wager, there's an interesting trading platform called Predictit. This platform, more akin to a stock market, allows users to buy or sell contracts based on the outcome of the election. These contracts are essentially financial instruments representing the possibility of a candidate winning. However, Predictit has limits, and the platform is not open to all types of bettors.

Legalities of Presidential Election Betting in Las Vegas

While it seems tempting to place a bet on the outcome of the presidential election in the heart of Las Vegas, the legal landscape is quite restrictive. In fact, it is explicitly illegal to bet on the outcome of the presidential election in Las Vegas, or any other US state.

The Nevada Gaming Commission only made it legal in the late 2010s for sports books to accept wagers on non-sporting events such as the Academy Awards or American Idol. This move was a significant step, but it was not an open door for all types of wagers. The new regulations required that casinos and sports books demonstrate their ability to conduct fair and transparent betting operations.

For instance, the recent change in regulations stipulates that:

The event can be effectively supervised. The outcome is verifiable. The outcome is generated by a reliable and independent process. The outcome is not affected by any wager placed.

Currently, there are no sports books or casinos in Las Vegas that make it possible to place a bet on the outcome of the presidential election. This is due to the legal restrictions and regulatory requirements that are in place to ensure fair and transparent betting.

For those who want to bet, there are alternative methods such as using international online casinos that accept US players. To fund these accounts, one can use Western Union transfers, as traditional US banks or PayPal are not allowed to facilitate these transactions.

Conclusion

In conclusion, while the idea of betting on the presidential election may seem appealing, the reality is quite different in Las Vegas. Legal restrictions and regulatory requirements make it a challenging and often illegal endeavor. However, online bets through regulated platforms or legal stock market-like trading platforms like Predictit offer alternative ways to speculate on the outcome and stay involved in the excitement leading up to the elections.