Betting on the UK 2020 Elections - Is it legal?

Now with the elections in the UK just months away, everybody has a political side to take. While some may hope that Boris Johnson’s poker face may help win negotiate independence from the EU in the coming months, others may not be too sure about Jeremy Corbyn’s commitment to the ordinary class of Britain. Regardless of what your political opinion may be and whom you think will win the elections, the question is are you willing to wager on it? 

In recent years it has become possible for people to bet on political outcomes similar to betting at the races. Today not only can you bet on who will win the presidential elections, but political scientists are looking at the bets placed for clues as to who could possibly win. 

The Legality of Betting on Political Outcomes in the US 

Back in 1980s, gambling in North America and even the UK was heavily regulated. In the UK that regulation continues to be pretty stiff in most parts of the country. However, betting on politics is now a growing industry and is on par with popular sports. Interestingly it was voted not to be legal in America by then-president George H.W. Bush in 1992, and that went into effect in 1993. Only Delaware, Nevada, Oregon, and Montana were exempt. 

Later, New Jersey challenged PAPSA, which went to the US Supreme Court, and that outcome was a win for gamblers of the state. However the federal government could still get involved and charge people involved in this type of gambling in addition to illegal online gambling with wire fraud using the Federal Wire Act. But today placing wagers on politics is big business. Law and legislation is now the job of each state, which means it is legal in most states to place bets on the election. 

The legality of Political Betting the UK 

Across the Atlantic in the UK, betting on political outcomes is perfectly legal. The same goes for the whole of the EU. People have been betting on the political outcome of elections for decades, and they have been doing it legally. 

However, in the UK, political betting’s financial figures pale in comparison to the sports betting industry as a whole. After all, many modern-day elections and referendums are highly charged, but the fact is that they don’t happen every month or even once a year. However, it gives people in the UK an opportunity to put their money where their month or perhaps their heart is. 

Currently the punters have Boris Johnson as the favorite for winning the elections. However, that may change, and according to some political analysts, the position Boris currently holds, i.e. as the favorite will soon start to deteriorate as the Labor Party and the Brexit Party start campaigning in full swing. 

Other experts are still skeptical if the Labor Party can dig itself out of the hole that they find themselves in so far. Not to mention the fact that the Tories have consistent support and supporters who come out to vote for them no matter what happens. 

How Does Betting on Politics Work? 

Many online sports betting websites have already put up odds for all parties. They (the websites) have started accepting bets for the 2020 Elections in the UK. However, as someone who has bet on sporting events in the past, betting on politics is going to appear easy since all you need is to take a quick look at the odds and the betting scenarios.

Some websites may also offer the ability to bet on the possibility that the Torries may have to form a coalition with perhaps Labor or the Brexit Party. The odds of that happening, for now, are near impossible to predict, but some put it at it being pretty good. If you think that a coalition will have to be formed, then bet in favor of it, if not then bet against it. Keep in mind that as the elections near the odds may change. 

Conclusion 

The UK’s 2020 elections is near, and it has many people on the streets, while others are skeptical that the new government will be able to achieve anything regardless of who they may be. However, if you are a betting man or woman it wouldn’t hurt to make a few hundred quid off your political hunch, now would it?