The 2020 U.S. Election is having a trickle effect is being seen across the border when it comes to British Columbians who love a good bet.
Ten-thousand bets are expected to be placed through BC Lottery Corporation’s Play Now platform by the time Americans head to the polls and make their vote heard on Nov. 3.
This is expected to be the single-most popular betting event in B.C. history. BCLC said in a news release Tuesday (Oct.27).
It’s no coincidence that British Columbians are set to pay attention to the upcoming 2020 election: The 2016 U.S. Election currently holds the record, with approximately 7,200 bets.
Nearly 3,000 bets totaling more than $1.4 million, or 68 per cent of the wagers, have been placed on Republican leader Donald Trump heading into Super Tuesday. If he wins, the potential combined payouts to all PlayNow.com players who wagered on Trump to win total more than $3.4 million. Trump’s current odds are 2.35, which means for every $100 someone bets, if right they will yield $235 – or a $135 profit.
Bettors who backed Joe Biden stand to win some huge profits if the Democrats win. The 1,484 bets totaling more than $622,000 (or 29 per cent of the wagers) translate to a combined potential payout of more than $1 million. Biden’s current odds are 1.58.
To date, an estimated 12,000 bets totaling approximately $3 million have been placed on the U.S. election in 2020.
That makes it more popular than betting events any Super Bowl, Stanley Cup playoffs or NBA playoffs.
Drastic change has happened over the last two months since both Donald Trump and Joe Biden hit the campaign trail.
Biden began the election with a four out of five likelihood of winning. Biden now sits at a 10 out of 19 odd favourite.
Trump on the other hand had 51 out of 50 odds, changing over the last two months to 33 out of 20.
BCLC’s Play Now was the first jurisdiction in Canada to offer novelty betting on the U.S. election in 2014.
Want to support local journalism? Make a donation here.