While Americans head to the polls, British Columbians are participating in the US Election in their own high-stakes way: with online bets.
BCLC reports that approximately 10,000 bets are expected to be placed by BC-ers via the betting website PlayNow.com.
On Tuesday, the oddsmakers said that Joe Biden’s odds had improved from 4/5 to a much more favourable 10/19, whereas Donald Trump had dropped from 51/50 to 33/20.
Most of the bettors are staking their money on Trump to win a second term, with 44 per cent of bets placed on the incumbent President to Biden’s 27 per cent (other non-candidates account for the remaining 29 per cent).
Trump’s longer odds may account for why he is receiving the majority of bets as of Tuesday.
A bet on odds of 33/20 will payout 2.65 times the original bet, a profit of 1.65, whereas a bet on Biden’s 10/19 odds would only net 0.53 profit.
BCLC says the 10,000 expected bets would significantly outpace the previous record of online betting at PlayNow.com for a single event.
The 2016 US election holds the previous record with approximately 7,200 bets, more than any Super Bowl, Stanley Cup Playoffs or NBA Playoffs.
*Note: Victoria Buzz is not affiliated with BC Lottery Corporation and does not advocate gambling or taking part in lotteries. If you choose to participate, remember to play responsibly.
