How to bet on Impeachment

• Entertainment
• Politics

Politics and betting on impeachment?

With America’s rich history dating back to George Washington as the first president, there have not been very many impeachments as far as the United States Presidents. As of this writing, there have only been three presidents that have been impeached.  Of course you can bet on there being bets taken!

Top Tips For Impeachment Betting

As with any sports, poker, or political betting, you are going to want to have a strategy. You need to follow a guideline that best represents your style of betting and what will work best for you. The top tips for impeachment betting are:

  • Finding a sportsbook 
  • Knowing your market 
  • Reading the odds
  • Knowing when to cut losses

Finding A Sportsbook 

To begin, you would need to select a sportsbook. You will have to have one that will be able to take care of all your betting needs. 

Most sportsbooks offer incentives or some type of welcome bonus to attract a new user. You can take full advantage of that opportunity to test the waters when placing your bet. 

It would also be in your best interest to compare and contrast different sportsbooks to see how they all operate. This will give you the proper information you need to find the best one. 

Knowing Your Market

First, before you do any kind of betting on sports or politics, you need to fully understand what you are betting on. Just because you think the President is not your favorite and you think he will be impeached, that does not carry the same weight as opposed to real hardcore facts to support your decision. 

So, in other words, you need to know what you are betting on before you wager money on something. You have to use hard evidence and knowledge to place a bet that would make sense. 

Reading Impeachment Odds 

For this next example of looking at the odds, you can look at the most recent impeachment process of Donald Trump. Here is the timeline of odds and how they changed over the year:

  • Aug. 23, 2018: Former campaign manager Paul Manafort and former Trump lawyer Michael Cohen have both been found guilty of eight charges each. They will likely face some jail time unless they both agree to cooperate with federal investigators to provide important information that can be used to try and impeach the President.
  • Sept. 24, 2019: Nancy Pelosi has now announced the formal impeachment inquiry of President Donald Trump. His odds of being impeached are placed at +300
  • Nov. 19: Impeachment odds have jumped at -210 for “Yes” and +155 “No.” This is now a 67.7 percent chance of impeachment.
  • Nov. 24: Each new witness coming forward is adding to Trump’s impeachment odds. The “yes” has been shortened to -275 (73.3% chance).
  • Dec. 6: Only one sportsbook seems to have the original “impeachment” odds up, with the “Yes” at a crazy -1450. Most all of the other ones have switched to an “impeached and removed” prop bet.
  • Dec. 17: With the vote hanging around in the House, the chances of impeachment take on well above 90 percent according to many sportsbooks (-1100 odds).
  • Jan. 24, 2020: As the Dems finalize their case in the impeachment trial, the odds of complete removal are now +1592. This is quite long, but not as long as they were just a short four days ago.

As you can see in the timeline above, the odds were building up and changing over time. There were small dips in the process, a very likely to the President being impeached, and then moved to complete removal from office. 

The minus sign is considered the favorite, or a strong likelihood that it will happen, so you have to wager more money to get a return. The plus sign is the underdog and attracts people playing the odds to make a return of a lot more money. 

Knowing When To Cut Losses

Finally, the last piece of advice is to know when to cut your losses. You cannot be completely caught up in your bets and continue to try and win your money back. 

You need to be sure the money you use is something that you can afford to lose. You have to be smart and keep yourself updated with new information to make sure you have the right bets and the money to do so with.

How To Bet On Impeachment FAQ

What are the betting odds on impeachment and removal for Trump?
+

As of January, the odds for both an impeachment and removal from office were nearly +1600. So the odds were a long shot, but still a chance.

What is the best Trump impeachment betting site?
+

You would need to run a search for this to determine what exactly fits your needs. For sportsbooks, this will vary depending on the odds placed and the best payouts.

What is the best way to stay updated on Trump impeachment news?
+

For betting and any political news, you can find more information on your usual news outlets and online publishers. It is best if you take into account both sides of the story, Democrats and Republicans, to get a better view of the situation.