World

Betting Surge on Trump as B.C. Prepares for U.S. Election Fever

2024-11-04

Author: Noah

As the clock counts down to the highly anticipated 2024 U.S. Presidential election set for Tuesday, betting activity in British Columbia is reaching new heights.

According to PlayNow, the official gambling site of the B.C. Lottery Corporation, interest has surged remarkably akin to the record-breaking momentum seen during the 2020 election.

The stakes are high, with B.C. residents placing bets as they tune in to the unfolding political drama.

PlayNow noted that the 2020 election saw a staggering $4.5 million wagered across over 16,000 bets, and the current climate suggests we may witness even greater betting volumes this time around.

Matt Lee, a spokesperson for the lottery corporation, asserted that interest in the upcoming election may rival this year’s Super Bowl, a sports event typically known for drawing extensive betting.

As of Monday morning, the odds were heavily favoring Donald Trump for a victory, marking a significant shift compared to the trends seen during the 2020 election cycle.

In terms of numbers, the odds for a Trump victory were set at 1.68, while bets on Kamala Harris were listed at 2.10.

What does this mean for bettors? A winning wager of $100 on Trump would yield $168 in payout, while the same stake on Harris would net $210, indicating that the higher returns for Harris reflect her perceived lower chances of winning.

Lee emphasized that the odds are influenced by a variety of factors—including U.S. polling results, betting volume, and the dynamic nature of wagering itself.

Notably, he remarked that the odds this year are nearly the reverse of what they were on the cusp of the 2020 election, when Joe Biden was favored at 1.68 to Trump’s 2.20.

In the battleground states, the betting landscape mirrors expectations drawn from polling averages.

Current PlayNow odds show Trump favored in most critical states, with the exception of Wisconsin, which leans towards Harris, and Pennsylvania, where both candidates hold even odds.

An interesting aspect to watch is how polling inaccuracies from previous elections might affect betting trends.

In 2020, polls in Wisconsin were reported to have missed the final results by a whopping nine points, a reminder that while betting can be a fun activity, it is not always a reliable predictor of outcome.

For those in Canada, betting on the U.S. presidential election is legal through regulated sportsbooks, and PlayNow remains the only authorized online betting platform in British Columbia.

With the stakes set high and the betting momentum growing, both casual fans and seasoned gamblers await election day with bated breath.

Will Trump's odds hold true, or will voters swing things in Harris's favor? As we draw closer to one of the most pivotal political events, the world watches, and British Columbians are all in.