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US Election May Be Most Wagered Betting Event Ever

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The raucous, passionate and unpredictable 2016 U.S. presidential election is on track to notch another distinction: the most wagered-upon political event ever.

With many opinion polls showing a tight race just one day before Tuesday’s election, record numbers of bettors are pouring millions into online platforms from Ireland to Iowa in the hope of capturing a financial windfall from a victory by Democrat Hillary Clinton or Republican Donald Trump.

UK-based internet betting exchange Betfair said on Sunday its “Next President” market was set to become the most traded it had ever seen and expected to surpass even Brexit, the contentious UK referendum to leave the European Union.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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