More people are betting on this election than ever before
Will Hillary Clinton or Donald Trump be the next president of the United States? That is the million-dollar question.
Well, answering it correctly could earn you a chunk of change, anyway. As the polls tighten on the eve of Election Day, Reuters reports that the 2016 presidential campaign is on track to be the most wagered-upon political event in history.
Betfair, a U.K.-based online exchange, reports that predicting the "next president" of the U.S. is expected to even surpass Brexit betting. On Sunday, Betfair reported that $130 million had been traded on U.S. presidential predictions, while Brexit topped out at $159 million. "We think it is because [of] how raw the Brexit [vote] is in people's minds — they're not convinced yet that it's a done deal," Betfair spokeswoman Naomi Totten said. (U.S. law significantly limits betting on elections in the United States).
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Paddy Power, an Ireland betting site, said that while it mostly makes money off of sports events, the 2016 race looks like it will crack the website's 10-most-traded events ever. Ladbrokes, another U.K. gambling site, said the 2016 race has "at least double[d]" the money wagered in 2012's election.
Who, then, are people putting their money on? All three websites posted an 83 percent chance of a Clinton victory.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.
-
Trump vs. states: Who gets to regulate AI?Feature Trump launched a task force to challenge state laws on artificial intelligence, but regulation of the technology is under unclear jurisdiction
-
Decking the hallsFeature Americans’ love of holiday decorations has turned Christmas from a humble affair to a sparkly spectacle.
-
Whiskey tariffs cause major problems for American distillersIn the Spotlight Jim Beam is the latest brand to feel the pain
-
CBS pulls ‘60 Minutes’ report on Trump deporteesSpeed Read An investigation into the deportations of Venezuelan migrants to El Salvador’s notorious prison was scrapped
-
Trump administration posts sliver of Epstein filesSpeed Read Many of the Justice Department documents were heavily redacted, though new photos of both Donald Trump and Bill Clinton emerged
-
Trump HHS moves to end care for trans youthSpeed Read The administration is making sweeping proposals that would eliminate gender-affirming care for Americans under age 18
-
Jack Smith tells House of ‘proof’ of Trump’s crimesSpeed Read President Donald Trump ‘engaged in a criminal scheme to overturn the results of the 2020 presidential election,’ hoarded classified documents and ‘repeatedly tried to obstruct justice’
-
House GOP revolt forces vote on ACA subsidiesSpeed Read The new health care bill would lower some costs but not extend expiring Affordable Care Act subsidies
-
Hegseth rejects release of full boat strike footageSpeed Read There are calls to release video of the military killing two survivors of a Sept. 2 missile strike on an alleged drug trafficking boat
-
Trump vows naval blockade of most Venezuelan oilSpeed Read The announcement further escalates pressure on President Nicolás Maduro
-
Kushner drops Trump hotel project in SerbiaSpeed Read Affinity Partners pulled out of a deal to finance a Trump-branded development in Belgrade
