Without pro sports to wager on, bettors are fixated on everything from Biden’s White House chances to the price of Netflix stock
When coronavirus shut down the sports world in the span of a few days it didn’t just sideline thousands of professional athletes and their legions of fans. It benched thousands of sports gamblers who suddenly couldn’t find so much as a daily double at the local dog track to bet on.
PredictIt, a political-betting website, operates openly out of Washington D.C., taking prop bets on everything from whether Trump will be re-elected to how many times he’ll tweet in a week, under the exemption that the site is a non-profit collecting data for academic research. The site pays out more like the stock market—you buy a share in, say, Kamala Harris for $.50. If she wins, you get $1. If she loses, you get nothing.
“The Trump election was huge,” he says. “In general, presidential elections are a nice binary option—in European elections, you’ve got complicated parliamentary processes. But Trump is such a well-known and controversial figure. The 2020 U.S. general election will no doubt be the next big thing. It’s clear to me from all the money we’re taking in that it will break all the records.”
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