Popular betting market
Gamblers around the world are betting on the impeachment process involving President Donald Trump now more than ever.
impeachment looms large for the 45th president of the United States
Wagers became more prevalent with the release of a transcript involving a phone call between U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky.
Betting markets can be found listed under novelty and political categories at international bookmakers around the world. Bookmakers are predicting that impeachment looms large for the 45th president of the United States.
Surge in online bets
Bettors around the world have have been betting on the impeachment process via online bookmakers.
Smarkets, an online betting exchange, has already reported tens of thousands of bets being placed on whether the House of Representatives will submit an article of impeachment on the president before his term comes to an end.
According to Smarkets Head of Political Markets Sarbjit Bakhshi, this has been the most traded political market as of late. He also stated that current betting odds suggest that impeachment is likely.
The market now makes it a 65% chance to happen during Trump’s first term.”
It seems likely that the Democrats will use their House majority to push for impeachment after it was revealed that Trump asked the president of Ukraine to investigate Joe Biden.
According to Mr. Bakhski, there is little chance the effort will succeed in the Senate, yet the move could cause Republicans to consider another candidate for the 2020 election.
Wagers increasing in Canada
The northern neighbor of the United States, Canada, is also accepting bets on the possible impeachment. The B.C. Lottery Corporation offers novelty bets on the Trump presidency and has reportedly found the betting markets to be very popular among online bettors.
Additional betting markets are being offered on the Playnow site of the B.C. Lottery Corporation, including whether Trump or British Prime Minster Boris Johnson will lose their job first.
The site also offers a few outlandish betting markets, such as whether or not Trump and Russian president Vladimir Putin will go on vacation together during the first term of Trump’s presidency. Odds for this bet are at 99/1, which suggests that it’s highly unlikely.