BetOnline reports rising trend in election betting ahead of 2024 cycle
The company said activity has exceeded previously established highs.
Key Points
- US bettors have expressed a growing interest in election wagering
- The website has published election wagering odds for more than 20 years
BetOnline.ag has reported a boost in election betting activity on its website. The company said that it has observed “unprecedented engagement” during this year’s election cycle.
Company CEO Eddie Robbins III said, “We’ve seen incredible enthusiasm for political betting in 2024. The level of engagement, the amount wagered and the diversity of bets being placed all point to a new era in political betting.
“Our markets give the public an exciting, interactive and innovative way to participate in the election process beyond voting.”
BetOnline.ag began posting election betting odds on its site in 2000. Robbins went on to discuss the company’s longevity.
He commented, “We’ve been offering political betting options for more than 20 years, so we’re not a new kid on the block.
“We have political oddsmakers on our team who are experienced and know how to trade these markets at a professional level.”
However, the Commodity Futures Trading Commission (CFTC) has pushed back against allowing election betting in the US through a lengthy legal suit with Kalshi.
The US Court of Appeals for the DC Circuit recently ruled in favor of Kalshi in the ongoing legal battle, stating that the CFTC failed to provide evidence of harm because of Kalshi’s posted contracts.
The court went on to say in its ruling, “Ensuring the integrity of elections and avoiding improper interference and misinformation are undoubtedly paramount public interests, and a substantiated risk of distorting the electoral process would amount to irreparable harm.
“The problem is that the CFTC has given this court no concrete basis to conclude that event contracts would likely be a vehicle for such harms.”
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