How to succeed in political betting on events in Australia and all over the world
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Although bet on politics may not be as popular as sports wagering, it attracts multiple bettors on the eve of an election. AU political betting features high odds and unpredictable outcomes.
How political betting evolved
Bookmakers noticed that people like to make all kinds of wagers, both on sports competitions and other events that have nothing to do with sports. Political betting gives players a great opportunity to wager not only on athletes but also on politicians and their parties.
Although the idea of betting odds politics is not brand new, few bookmakers were fast to realize how promising and profitable this trend was. Many websites ignored any events that were beyond their area of expertise. However, it soon turned out that people have nothing against wagering on show business, fashion, elections, and plenty of other non-sporting events. Today, you can bet on politics with pretty much any bookmaker.
Political bets: special features
The main thing about betting on politics is that estimating the probabilities is extremely tough. Even seasoned professionals (let alone common bettors) find it hard to analyze some factors that affect the final outcome. To provide diverse betting lines, bookmakers have to commission analysts that have a deep understanding of politics. However, even with professional assistance bookmakers may fail to calculate the odds right.
In politics, there is a term “to play dirty.” You never know when a sly contender may use a dishonest method to tip the odds to their favor and win the election. A politician may reveal damaging information about their opponents to tarnish their reputation, spread libel, bribe executives, launch a controversial media campaign, and so on. Such actions may affect the outcome of the election in a great way. It’s a common practice when bookmakers have to adjust their odds multiple times or even cancel all stakes.
Waiting for the outcome
What makes political bets different from other wagers is that you need to wait forever for the outcome. An election race lasts several months. If you made a stake early into the race, you’ll have to wait for the outcome patiently. On the other hand, early wagers allow you to take advantage of profitable odds. During the race, the situation may change completely due to a number of factors and odds may go down. The last week before the election is the most volatile period in the entire race. Heading into the homestretch, contenders try to win over uncommitted voters.
It’s important to understand that politics is not the only entertainment to hone your analytical skills. Political betting sites offer political events as an addition, while the majority of bettors still prefer sporting competitions.
During the race, bookmakers may change their odds more than once. While odds across different bookmakers may vary greatly, you can benefit from spread betting. Bear in mind that oddsmakers are good at detecting suck kinds of stakes. Sometimes, it’s better to fight the temptation to cash in on a spread.
AU politics betting
The Parliamentary election is the major event in Australia’ social life. The outcome of the election is tough to predict which makes AU political betting quite challenging. Below we’ve listed the key contenders that receive the majority of votes:
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Liberal Party;
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Labor Party;
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Green Party; and
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National Party.
Any political betting website provides odds on the above associations. Along with the long-time favorites, bookmakers take stakes on outsiders as well. Furthermore, you can wager that your selected party will end up in a certain place. Needless to say that the outright favorite attracts the most stakes.
In Australia, voting is compulsory for all citizens. This secures a high turnout and makes AU politics betting very popular among bettors. About 90% of voters cast their vote in the 2016 Parliamentary elections. It’s safe to say that many of them must have supported their favorites on bookmaker websites.
