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Tag: political betting

  • BetOnline Offers Unorthodox Betting Options Following Biden’s Resignation

    BetOnline Offers Unorthodox Betting Options Following Biden’s Resignation

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    In a surprising twist, President Joe Biden recently announced his resignation from the presidential race, opening the door for a slew of unorthodox betting proposals from the popular yet unregulated sportsbook BetOnline.ag. BetOnline has wasted no time capitalizing on the uncertainty of the shifting political landscape, offering odds on possible future endeavors for the soon-to-be former President.

    Biden in Space?

    The creative betting lines brought forth by BetOnline give an intriguing glimpse into the possible routes that Joe Biden may take after his presidency. The suggestions include career options consistent with the President’s public service background, media roles, and even several quirky pastimes. Here’s the next job for Biden, according to the odds:

    • CNN Commentator: +1200
    • USGPA Pro-Am Golf Player: +5000
    • Board Member at The Villages (Orlando): +10000
    • Shuffleboard Instructor: +50000
    • AARP Spokesperson: +4000
    • Jell-O Spokesperson: +10000
    • Walmart Greeter: +50000
    • Space Cadet for NASA: +100000

    While BetOnline.ag is not regulated within the United States, it continues to push the boundaries of traditional sportsbook betting by having political and lifestyle bets on its board. Users should be aware that regulated US sportsbooks cannot offer wagering on political events, so what BetOnline offers is highly controversial.

    Distinguished Hobbies for an Aging Gentleman

    For those bettors wanting to spice up the post-presidency phase of Joe Biden’s life, some of BetOnline’s other unorthodox betting propositions run the gamut from the plausible to the ridiculous. These range in theme from leisure activities to potential advocacy roles, representing the multifaceted interests the soon-to-be former President may indulge in by 17 February 2025:

    • Pictured Doing a Puzzle: +800
    • Announce Role with Alzheimer’s Association: +1000
    • Pictured Playing Bridge: +1200
    • Pictured Playing Bingo: +1600
    • Announce Role with National Council on Aging: +2500
    • Pictured Playing Dominoes: +2500
    • Pictured Playing Chess: +800
    • Move to Florida: +1000
    • To Go on a Cruise: +1200
    • Move to Maine: +2000
    • Pictured Knitting/Doing Crochet: +2500

    These humorous suggestions represent just a part of how BetOnline.ag has remained actively engaged with the US presidential debate. The platform recently suggested Pennsylvania Governor Josh Shapiro as the odds-on betting favorite in the race for the Democratic vice presidential nominee, giving him impressive odds of -400. Most similar websites agree with this assessment, highlighting Shapiro’s substantial experience.

    As Joe Biden steps back from the presidential race, unconventional betting options capture the imagination of those following his next moves. From media roles to leisurely pastimes, the odds present a mix of humor and genuine possibilities, reflecting the diverse paths Biden could explore. Meanwhile, the looming battle between Trump and Harris promises to deliver many more twists, turns, and betting opportunities.

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    Deyan Dimitrov

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  • Biden’s Exit Spurs Record Polymarket Betting Activity

    Biden’s Exit Spurs Record Polymarket Betting Activity

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    Joe Biden’s unexpected decision to bow out of the 2024 presidential race has sent shockwaves through political circles and prediction markets. Immediately after the announcement, Polymarket, a leading decentralized prediction platform, experienced its highest spike in betting activity ever. Daily trading volume surged to a record high of $28 million, showcasing enhanced uncertainty and interest in the approaching election.

    Election Drama Creates Wagering Opportunities

    While it’s not unprecedented for US presidents to opt out of a second term — historical figures like James Polk and Lyndon B. Johnson have done so — Biden’s decision stands out for its timing. With the Democratic National Convention just a month away and only days after Biden tried to reassure his supporters that he wouldn’t give in to internal party pressures, the election has entered uncharted territory.

    Following Biden’s announcement, the daily volume on the Polymarket platform surged to as high as $28 million, topping its previous records. A month earlier, Polymarket averaged $4 million to $5 million daily volume, surging after the contentious debate between Biden and Donald Trump that had already stirred speculation about Biden’s political future.

    The record-shattering action on Polymarket comes amidst a broader frenzy on election-related contracts. Political markets have seen more than $500 million in bets. Those include $319 million on predicting the winner of the US presidential election and another $212 million on the Democratic nominee, with Vice President Kamala Harris as a favorite.

    Polymarket allows users to bet on the outcomes of many sports, geopolitics, and pop culture events by buying and selling shares between $0.00 and $1.00. The price of a share reflects what the market believes is the probability of an outcome occurring. A share priced at $0.50 translates to a 50% chance of it happening. If the event occurs, that share’s value doubles to $1.00.

    An increase in political betting on Polymarket shows the interest of gamblers looking for more than just regular wagering on sports. The platform circumvents the ubiquitous restrictions on political betting by creating a cryptocurrency-based marketplace where users can purchase shares of event outcomes, skirting the regulatory attention that conventional betting typically attracts.

    Prediction markets could have real staying power, thanks to platforms that not only are tamper-proof and transparent but also provide liquid bets with real-time consensus data.

    Lorenzo Valente, ARK Invest analyst 

    The withdrawal of Biden will shake the election scene and bolster growth and engagement for platforms like Polymarket as people search for new ways to engage with and profit from the rapidly changing political scene. All eyes will follow how these markets react to the unfolding political drama throughout the election.

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    Deyan Dimitrov

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