Trump’s 2024 Win Spurs Betting Surge in Canada
The 2024 US Presidential Election led to a significant increase in registrations on sports betting platforms in Canada. The heightened anticipation around Donald Trump’s victory, in particular, resulted in increased activity. Betting providers such as BetVictor and DraftKings saw a substantial influx of users, as many placed bets on the outcome of the election. Odds fluctuated significantly throughout the evening, further fueling interest in live betting.
Election Betting as a Growth Driver for Sports Betting Providers
The 2024 US Presidential Election was not only a major political event but also a lucrative business for sports betting providers in Canada. Many platforms offered special betting markets for the election, leading to a noticeable increase in user numbers. Interest was especially high in Ontario, where many Canadians placed bets on the outcome of the election.
Trump as the Favourite in Betting Markets
Early in the evening, it became apparent that Donald Trump was favoured in the betting markets. According to David Merry, a trader at BetVictor, the majority of bets were placed on Trump. By 01:30 AM (CET), Trump had odds of 1.73, making him the clear favourite. As the night progressed, the odds shortened further, eventually reaching 1.002, which offered virtually no returns for bets on Trump.
Highly Fluctuating Odds in Ontario
In Ontario, the odds experienced a rollercoaster ride. At BetMGM, Trump started with odds of -200 (Harris +170) at 8 PM (EST). Within a few hours, Harris’s odds worsened drastically, while Trump became increasingly favoured. By 11 PM, Trump was at -2500, and Harris at +1100. These rapid changes reflected the emerging results in the swing states.
Live Betting and the Popular Vote
Another area of high demand was live betting. According to Johnny Avello, the Director of Sports Betting at DraftKings, interest in betting on Trump remained high despite rising odds. Particularly notable was the demand for bets on the popular vote, where Trump was considered an underdog. Some users were able to secure winnings here, as Trump ultimately won the popular vote, despite starting with odds of +250.
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Results at the Ontario Lottery and Gaming Corporation
The Ontario Lottery and Gaming Corporation (OLG) also saw significant participation in election betting. According to an OLG spokesperson, 53.7% of the bets were placed on Trump, while 46.3% were on Harris. Particularly interesting was the popular vote, where Trump was considered an underdog, yet 29% of the bets were placed on him.
Our Assessment
The 2024 US Presidential Election clearly demonstrated that political events can have a tremendous appeal for betting customers. In Canada, in particular, the election led to a noticeable increase in activity on sports betting platforms. The highly fluctuating odds, especially in live betting, contributed to many users staying active late into the night. For sports betting providers, this was a profitable opportunity to attract new customers and retain existing ones. It remains to be seen whether similar trends will be observed in future political events.
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