Vice President nominee betting. A market that it is better to lay than back
If there’s one market that I usually avoid it is the Vice Presidential nominee markets, I couldn’t tip more rubbish if you give me a forklift truck and I’m not alone as punters are determined to give the politics team at Ladbrokes a very nice Christmas bonus by pushing the price of Michelle Obama as the Veep pick down to 10/1.
One of the reasons I avoid this market is that there’s a history of the successful candidate coming from nowhere, in recent times Sarah Palin, Paul Ryan, and Dick Cheney have come from nowhere to be the nominee, and four years ago it was the same with Mike Pence in this market as we can see in the below tweet. I think this happens because the Presidential nominee doesn’t want someone who will overshadow them at the bottom of the ticket so they go for someone a little bit more obscure.
So my opinion this is one of those markets where the profits come from laying rather than backing, it is what I’m largely doing this time.
TSE