Politics
How To Read Election Betting Odds & What They Mean?
Published23 hours ago on November 03, 2024
Election Day 2024 is right around the corner, and the race between Donald Trump and Kamala Harris is and has been tightly contested. Many have gotten it done early, but the rest of the voters will head to the polls on Tuesday to make their selections for what could be the most important election in recent memory.
Given the neck-and-neck state of the Presidential race, there are loads of betting options available at sportsbooks across the country. Some of the more notable bets have Trump favored to win it all, but that is just one of the hundreds of possible wagers that can be made ahead of Tuesday evening.
But how exactly is one supposed to read the election betting odds? And what do all of the numbers mean?
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How To Read Election Odds & What The Numbers Mean
Here is a detailed breakdown of how to understand the odds boards for Election Day 2024.
How To Read Favorites vs Underdogs
Every betting option that you will ever see is assigned some type of “value”. It is the number that is attached, and always has a plus(+) or minus(-) designation. Simply put, the team/entity that has the minus sign attached is the favored party, while the plus signifies the underdog.
For example, in reading the odds for the Presidential race, Donald Trump has a number of -136 next to his name, with Kamala Harris sporting a +118. This means that Trump and the Republicans are the favored party to win the election in this case.
But what exactly do those numbers mean in terms of the money that you wager?
What Do The Plus/Minus Designations Mean?
The symbol in front of the assigned odds is in regard to how much money you’ll make off of a winning bet.
As previously stated, a “minus” designation is typically attached to the favorite, meaning that a winning wager provides a payout that is less than the dollar amount bet. For example, since Trump is listed at -136, a $100 bet would pay out $73.53 (or roughly $36 less than $100).
Conversely, winning a bet placed on the underdog usually nets you a value more than that of the bet you placed (hence the “+” symbol). A successful $100 wager on Kamala Harris at a designation of +116 would see a return of $116.
How To Find The Best Value Bets
Sportsbooks are notoriously accurate when it comes to setting betting lines, meaning that it is hard to find sure-thing bets that have good value on return. But in sifting through the betting options, you may be able to find odds on things that you find likely that have solid payouts attached.
There are bets available on things like which candidate will win each state in the election, for example. States like Alabama and Idaho of course have long shot odds when it comes to the Democratic options, but betting on battleground states could provide some value. In a state like Nevada, Democrats have a +125 designation, meaning that a bet on blue would bring in $125 in profit.
Examples Of Election Bets For Both Parties And Their Values
Republican:
- Donald Trump To Win Election: -136 ($100 to win $73.53)
- Republican Victory In Georgia: -215 ($100 to win $46.51)
- Sun Belt Sweep (FL, TX, GA, NC, NV, AZ): +120 ($100 to win $120)
Democrat:
- Kamala Harris To Win Election: +116 ($100 to win $116)
- Democratic Victory In Pennsylvania: -130 ($100 to win $76.92)
- Blue Wall Sweep (PA, WI, MI): +110 ($100 to win $110)
