The professional sports leagues of North America tend to draw significant action at betting shops in Europe, but the biggest wagering event is not the Super Bowl, or the NBA Finals, or even the World Series. The biggest ticket in terms of Internet wagering in Europe happens every four years in the United States.
The U.S. presidential election happens to be the busiest and most exciting wagering event in terms of wagering interest and betting volume. According to a recent report published by the Washington Examiner, online betting shops in Europe are getting ready for the polling events leading up to the 2016 election to succeed President Barack Obama.
Millions of Euros Will be Wagered
As can be expected, Americans are not allowed to place bets on the outcome of their elections; however, this does not stop office betting from taking place in workplaces across the U.S. During the elections in 2008, an Internet firm from Ireland accepted soft betting on the outcomes of the polls, and this activity attracted the attention of data analysts, who marveled at the accuracy of the betting action with regard to forecasts.
Statisticians weren’t the only ones interested in the predictive accuracy and betting action at the Irish firm Intrade. The U.S. agency in charge of regulating the trading of commodities contracts and futures objected to Intrade’s operation, and this objection ultimately made the company fold. However, the demise of Intrade prompted other firms in Europe to add American elections into their books.
Even though the main election action is still months away, the potential primary candidates, who include the colorful Donald Trump, have already attracted nearly $400,000 worth of betting at British betting powerhouse Ladbrokes. Irish bookmaker Paddy Power has already written 6,000 betting tickets.