Great question. It’s something we do on PredictIt.Org, a trading platform that works like a stock market for politics. Take a look:
Star Spangled Gamblers is a blog and podcast that tracks what’s happening in Washington, D.C., from the angle of people betting on it. We are obsessed with the questions: what is likely to happen and why? And our mission is to give you the answers so that you can profit off of them by wagering on PredictIt. Since we are at a casino and not a government building, this also means that we are having way more fun. Our style reflects that:
We use satire, pop-culture, and hard data to make complicated issues in the news cycle accessible. We have no interest in telling you what is right or wrong — just what is going to happen. Since we are independent from the Fake News Media (FNM), we are free to provide you political insights without any additional MAGA porn or woke clickbait.
Is Betting on Politics Legal?
Bruh, this is totally legal, so don’t even come at me.
Second, how does PredictIt work?
PredictIt is the stock market for politics. Say you want to buy some shares of this:
You buy 100 shares of Joe Biden to win the State of Ohio nomination at 41 cents each. That’s $19 out of your pocket. And why not, the Democrats have done crazier things. Did you see Michael Dukakis in that tank helmet?
So you check a few polls, you go with your gut, and you bet on Biden.
Fast forward to November 2020: If Joe Biden wins in Ohio, your 41 cent shares will be redeemed at $1 each — the highest valuation on PredictIt. So now you’ve got $100 bucks in your pocket, which is a whole lot better than the $41 you spent to “invest”. But if you lose — if Trump wins in Iowa, or Joe Biden drops out of the race — those shares will be worth $0.
But guess what? We’ve got some freewill in this game. You can sell those shares anytime you want, and if you pay attention, you’ll see times that the market goes up and down like a stock exchange. We’ve made money on good horses and bad, and if you pay attention to this blog, we’ll hit you with some tips on how to do that on yourself.
This is free money.
And BEST OF ALL, your FIRST TRADE ON PREDICTIT is FREE.
That’s right, if you’re just getting started, we’ll get you a $20 credit on PredictIt so that you can immediately start to turn this election into a political gambling profit center.
There is really no reason not to start now.
***New to PredictIt? Click here to get your first $20 matched by the house.***