Political Betting Set to Rise as US 2012 Election Race Heats Up, Say LuckyNugget.com
(firmenpresse) - OTTAWA, CANADA -- (Marketwire) -- 03/16/12 -- The US 2012 election looks set to be a contributing factor towards the growth of the political betting market, say .
Luckynugget.com, a leading and site, reports that online betting is on the increase, with major political events like the upcoming US election contributing to the growing trend.
Political betting is nothing new. From the late 19th century through to the 1940s, political betting was big business, and at some points in history attracted more revenue than trades on stocks and bonds. At a time when widespread polling was non-existent, political betting markets provided a useful indicator for political campaigners. Today, online prediction markets are increasingly being used to indicate the shape of the political landscape too.
In 2004 MSNBC began using the Iowa Electronic Market, a site that allows traders to place bets on the results of political elections, as part of its elections coverage, with CNN following suit. The figures show that the political betting market beats the polls 75% in terms of prediction success, and we could well see an increase in the use of political betting odds in the media as the market continues to gain credibility.
In the current election race, Obama retains his lead as favourite. Online betting odds currently give him a 56.7% chance of winning the 2012 election. Obama's Republican contender Mitt Romney saw his odds lengthened to 13/8 recently after revelations that he paid a lower tax rate than the average American worker hit the newsstands.
America isn't the only country electing a new leader this year, and political punters keen to take a flutter can now place bets on who will be the next leader of Russia, France, Mexico, South Korea, and India, with bookmakers in the UK also taking bets on who will be the next mayor of London.
A spokesperson for Luckynugget.com explained:
"With increasing access to the internet and wireless mobile technology like smartphones, tablets and eWallets, political betting has never been so accessible to consumers. Add to this the fact that there are so many major elections taking place around the world in 2012, and we expect to see a rise in the number of political bets placed online this year."
Luckynugget.com is a leading Canadian online casino and online slots review site. Log on to Luckynugget.com for the latest online casino news from around the world, and to find out where you can place your 2012 election bets.
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Datum: 16.03.2012 - 13:57 Uhr
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