The betting world is accustomed to change and it is now on the verge of one of the most significant shifts in the industry in recent years: wagering on US elections. Offshore bookies have been taking bets on political races for years, but bookmaking in the United States has been largely banned. But that could change soon, according to recent evidence.
Busting the Election Betting Ban
The concept of wagering on US election outcomes has been for years largely isolated to offshore betting markets, particularly in Europe, where the practice has taken hold. Strict laws in the US have kept this option out of reach. That might be changing. A recent federal decision may open the door to legal, America-based betting on political outcomes like elections.
It stems from a New York–based betting exchange, Kalshi, that filed a lawsuit challenging the CFTC’s ban on bets on elections. In court, Kalshi said that betting on elections would not impact the integrity of elections, a position that U.S. courts appear to have favored in their first ruling. And, while nothing is certain yet, the direction is clear: US election betting may be on the cusp of becoming reality.
If all goes according to plan, this ruling would be a game-changer for the US betting industry.
Why Pay Per Head Bookmakers Should Take Note
The prospect of being able to add the US elections into the mix would represent a seismic shift for bookmakers. Pay Per Head services offer lines on hundreds of non-mainstream events, ranging from entertainment awards to weather. But introducing political betting into the product mix may bring an even larger user base. (Many bettors are also deeply interested in politics, and the ability to bet on election outcomes could make them visit platforms with such odds.)
What really separates the Pay Per Head outfit from other shops in this quickly changing marketplace is their adaptability and testimony sure system. Business such as the aforementioned VIP Pay Per Head help bookies from small to large efficiently manage the full spectrum of betting options. Political bets, especially regarding something as momentous as US elections, allow bookmakers to tap into a larger market to take the bets and make money.
The 2024 presidential race, for instance, already has the whole world talking. If Pay Per Head Services were to be able to provide odds on this event, the market would increase tenfold. Picture bettors betting on sporting events, betting on whether their candidate of choice can prevail in the presidency. The opportunity for a better user engagement is so huge.
Betting On The US Political Landscape In The Future
With the legal ground now looking progressive where US election betting was concerned, US Pay Per Head bookmakers need to move out of the woods. Monitoring any potential new legislations will be key, as these decisions could significantly impact the way betting companies do business. Bookmakers primed and ready to adapt will be in a strong position to benefit from this additional revenue source.
To be sure, the ethics and potential consequences of wagering on political outcomes is a matter of discussion. The CFTC is concerned that money bribes can affect the will of voters or harm the integrity of the electoral process. But as we’ve seen in the European markets, political betting has not resulted in any major problems with election manipulation. Instead, it is simply one more means of popular entertainment and engagement.
This new-fangled trend is a golden chance for Pay per head agents to expand their business.
