The 2020 U.S. presidential election is expected to set records in the betting market.
Legal wagers on the election are not offered through any of the U.S. sportsbooks, but an enormous amount of money is projected to be bet on the election between President Trump and former Vice President Joe Biden.
Matthew Shaddick, the head of political betting at British sports betting and gambling firm GVC, told the Agence France-Press last week that the total money wagered could reach as high as $1 billion.
According to the offshore sportsbook Betonline.ag, the election has exceeded the Super Bowl in dollars bet and it will be the biggest decision in the website’s history since the Floyd Mayweather-Conor McGregor boxing match back in 2017.
Rupert Adams, a spokesman for William Hill international, said the firm expects to see nearly $13 million wagered on the election by Tuesday.
“We predict this will be the biggest wagering event of 2020,” Adams told the French news agency. “The figures are simply astounding and include all sporting events.”