Sports betting has launched like a rocket into the forefront of many bettors’ minds.
Many recreational gamblers prefer making fringe prop bets. These wagers offer the most entertainment value for borderline sports fans.
Prop bets aren’t reserved to the playing field. Sportsbooks are getting into the business of action in politics and entertainment.
Will Washington D.C. and Hollywood be the future of sports betting?
Current data suggest a growing trend that will burst the floodgates.
Betting on Politics
For over a century, political betting has been a popular outlet for gamblers. Many of these early elections were as popular as the Super Bowl is today.
Gamblers would congregate to place bets on their favorite candidate. Many of them hoped to cash in on their success.
Political prop bets are a fast and fun way for fans to get a little skin in the game. Most prominent sportsbooks offer political wagers, so you have plenty of choices.
Gambling on politics has opened the door to many gamblers who aren’t interested in sports. Given the decline in popularity for major sports, Washington D.C. could be significant.
Prop bets are a hit with newer gamblers. The vast majority of political bets fall under this category.
Betting on Television and Film
Entertainment betting is a valuable market for sportsbooks. There’s an almost limitless customer base, and you don’t have to contend with off-seasons.
That gives sportsbooks the freedom to offer action on about anything at any time. The widespread popularity of the entertainment industry is vast for gamblers.
Many of the wagers in television and film focus on the stars. Betting on celebrity divorces is a favorite among gamblers.
Yet, in the realm of Hollywood stars, nearly anything goes. Including online sportsbooks taking bets on which celebrity will die first.
These head-to-head wagers are off-limits in U.S. sportsbooks. It’s illegal to bet money on when an individual will die.
Still, the bets seem to be driving business for the betting sites.
The best thing going for betting on Hollywood is how many people follow TV and movies. The number of that audience willing to gamble on the events remains unclear.
But there are signs that Hollywood has a place in the future of sports betting.
The Current Market for These Type of Props
The market for political betting in Europe is barreling forward at a rapid pace. The sportsbooks take wagers on everything from elections to ballot measures.
In many places, a bet in favor of a proposed measure is seen as a sign of support. Gamblers view the political arena as a part of their daily gambling routine.
The European market isn’t dedicated to the region. The United States political system is a favorite for gamblers across the globe.
The nature of the two-party system and its antics make the U.S. a popular market abroad. Let me assure you that they’re not laughing with us; they’re laughing at us.
The rising popularity of politics in sportsbooks could mean big things are coming.
Growing Interest in the U.S. Market
As sports betting becomes legal across the United States, it’s reasonable that Hollywood and D.C. will be a part of it.
That isn’t necessarily true for a couple of reasons. Yes, Hollywood is likely to have a seat at the table. We’ve already seen that begin happening over the past three years.
But many officials wish to keep elections off the table. The reason for this opposition is laughable.
They claim that they have concerns over financial implications corrupting the system.
To be clear, they don’t think we should bet on elections because the system may become corrupt. I’d hate for our political system to become corrupted by crooks and thieves, oops.
Whether elections are left off the table or not, there’s still a massive opportunity for politics. Hollywood will come along, but politics are a huge part of sports betting’s future.
The Polarizing Nature of Politics
Politics in America are highly polarizing. Much of this can be attributed to mainstream media bending any story to align with their agenda.
If one of the major news outlets can’t bend the narrative to suit their audience, they ignore it. That’s true on either side of the political spectrum.
That makes getting the truth a challenge. Furthermore, it divides us.
Due to the negativity in the country, the future of political betting has never been brighter.
More Americans Engaging on Both Sides
The potential for political betting comes from more Americans engaging in politics. That’s not necessarily a good thing, but the gambling market stands to benefit.
Don’t get me wrong. Americans becoming more involved is a positive, but how many are going about it is hurting us.
Still, that has a ton of borderline gamblers willing to let their wallets do the talking. It’s not always enough for people to donate to a candidate or vote.
These people will delight in the chance to show their support by laying money on the line.
I’ll admit that the political scene in the U.S. is prime entertainment. It has all of the drama of a WWE match mixed with the maturity of preschoolers fighting over a crayon.
As we get further off course, the two sides will dig in deeper. The sportsbooks must be licking their chops at how evenly divided we are.
A Huge Demographic That’s Not Involved in Betting
I know many people who love many of the aspects that go into sports betting, but not sports. Opening the markets up to politics and entertainment creates a new customer base.
Once these gamblers understand the fundamentals, the demand for gambling will increase. The potential profits for sportsbooks are staggering.
Washington D.C. and Hollywood are poised to be the future of sports betting. It’s only a matter of time before these punters discover the thrill that comes from sports betting.
Pop Culture Will Always Be Available
In 2020, we saw professional sports leagues shut down. That left a massive hole that needed filling.
E-sports stepped in but only made a small impact. Popular culture and celebrities will always be there to entertain.
The same can be said for politics. If there are sportsbooks to take gambling action, there will be politicians.
That’s another factor of the future success we’ll see in betting on politics and entertainment. Prop bets will give bettors opportunities even when there’s nothing happening.
The market is driven by demand; as demand grows, the sportsbooks will follow. The reason entertainment and politics haven’t taken over the sportsbook is simple. The younger gamblers are not betting as much as the older sports bettors.
As that shifts in the other direction, politics and entertainment will grow exponentially.
Many Americans Are Becoming Disenfranchised with Professional Sports
Professional sports are falling out of favor with Americans. You can’t dispute the vast decline in viewership and interest on social media.
MLB sees the hardest hit. The departure from cable to streaming services has put baseball in a crunch.
But it’s not alone. People are watching fewer sports despite the fact that we’ve got more ways than ever to consume them.
Is it the personalities?
It could be that the Greatest Generation is dying off. The void is filled with Millennials that are less interested than their great-grandparents.
Regardless, it leaves a large hole that needs an answer. That answer appears to be politics and entertainment.
Opportunities for Savvy Gamblers
Sharp bettors are going to have a field day with the future of sports betting. I see politics as the more challenging market due to our party lines.
If the country splits down the middle, it stands to reason the betting will follow those lines. That makes it tough to find the best values.
The entertainment industry is a complete crapshoot. Savvy gamblers are going to clean house from the lucrative opportunities.
But first, there needs to be a more prominent presence in the sportsbooks. That will give enough variety to shake things up on the best lines.
Our Final Thoughts on Election Gambling
Will Washington D.C. and Hollywood be the future of sports betting?
I believe politics and entertainment will be a significant part of sports betting. But I’m not convinced traditional betting markets will suddenly vanish.
Instead, we’ll see sports betting become a more prominent form of gambling. Politics and entertainment will share the spotlight.