Politics
Is Kalshi Safe? Why Some Gamblers Use Offshore Betting Sites Instead
Published11 hours ago on November 04, 2024
The 2024 Presidential Election is in full swing, as are the bettors and gamblers who are wagering on the event. With the growth of legalized gambling and the popularity of it, this will without a doubt be the most active wagering election that we’ve ever seen, and there are plenty of outlets that are getting in on the action. Reputable trading sites like Robinhood are getting into the mix, as is Kalshi, an outlet that has exploded in popularity in recent weeks and months.
But how does it compare to other gambling outlets when it comes to the election?
Kalshi Is Taking Bets On 2024 Election
Similar to Robinhood, Kalshi accepts wagering based on something called an “event contract”. According to the site itself, an event contract is “a financial instrument that allows users to trade on the outcome of real-world events. If the event occurs, the contract settles at $1. If it does not occur, the contract settles at $0.”
But unlike its counterpart, Kalshi allows wagering on a wider range of topics. Instead of only having the option to bet on Donald Trump or Kamala Harris to win the Presidency, there are featured “prop” bets like ‘who will win Nevada’ or ‘will Trump flip a Biden state’.
The betting menu seems a bit daunting, especially given the unorthodox style of wagering offered. Traditional gamblers are more used to making straight bets, no contracts involved, so it may be difficult for Kalshi to sway any long-time sportsbook users to adopt their format.
Best Election Betting Sites In 2024
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$1,000 in free election bets for Trump vs. Harris
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$1,000 in free election bets for Trump vs. Harris
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$750 crypto bonus for the 2024 Presidential Election
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$750 crypto bonus for the 2024 Presidential Election
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125% deposit bonus worth up to $1,250
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100% deposit match worth up to $500 in free bets
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50% deposit bonus, worth up to $200
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T&Cs apply. 18+. One per customer. Offer is valid on initial deposit only.
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Full Disclosure: Our betting experts have thoroughly researched and handpicked each product based on their direct experience. We may receive compensation if you sign up using our links.
Why Gamblers Prefer Sportsbooks To Kalshi
| Sportsbooks | Kalshi |
| ✅ Vegas Odds for Elections | ❌ Buy Contracts for Election Winner |
| ✅ Instant Deposits | ❌ Deposits Can Take Up To 4 Days |
| ✅ Bigger Bonuses & More Free Bets | ❌ Payouts Are Not Always Clear Before Betting |
| ✅ Fast Payouts |
The ease and simplicity of the well-known sportsbooks will appeal to the long-time bettors. The entire contract situation can be confusing, and would require some reading and research into how it all works before ever getting to the betting menu. That in itself will likely cause gamblers to stick to what they know as opposed to buying into a new system.
There aren’t many features that Kalshi can offer to customers that they can’t get with find in other outlets.
Which Sportsbooks To Use Instead?
Check to see if your favorite offshore betting outlet is taking action for Election Day 2024. Some of the more popular sites have extensive betting menus that offer a wide range of options and parlays, including BetOnline and Bovada.
When choosing which sportsbook to deposit your money into, be sure to do some light research on things like odds and payout procedures. Also be sure to check if the events that you wish to bet on are available on the outlet’s odds board.
Be sure to check out other options like BetNow, BetWhale, and EveryGame as well.
