The Spread Betting firm SportingIndex has now got up its WH2020 markets and the early prices have Biden on 281 ECVs which is 11 above the number required.
This is a form of betting that lends itself well to elections because if you “BUY BIDEN” at the stated level the more ECVs he secures the more money that you will make. Alas it works the other way if you get it wrong. The more you are wrong the more you lose.
The betting chart shows two prices – a buy one and a sell one and the level I quote is the midpoint. So if you buy Biden at 284 ECVs and he chalks up 310 your have a differential of 26 units and your winnings will be 26 times your stake level. If Biden got 260 you would be 24 ECVs short and your losses would be 24 times your stake level.
Spreadbetting is a high risk high returns form of gambling and one that I find particularly satisfying even though I have had a few knocks in the past – you have to be sure you can cope with losses.
My best ever political bet was selling Tory seats on the spreads at GE2017 at 383 seats. They got 318 so I won 75 times my stake.
I have yet to place a spread bet on the current contest.