What a truly wild battle we all saw play out this past week. One side takes a surprising early lead, shocking the early linemakers. Only to have the other side methodically march back to take the lead towards the final stretch, in a final result that ultimately will be remembered for controversy. Yes, that Giants-Tampa Bay Monday Night Football game definitely had it all.
Joking aside, this week made one thing about America clearer than ever – betting is taking over. Let’s talk about sports betting news from last week.
Betting the 2020 U.S. Presidential Election
The 2020 Presidential Election revealed the nation’s obsession with sports betting odds, even when the contest is not a sporting event. Millions tuned into online providers of live odds, which took them for quite a ride. When the sun rose on November 3, Biden was a -150 favorite. Yet, by dinner time in Vegas, Trump’s odds to win had risen to -700 in some spots. Americans obsessively followed how those odds changed over the course of the night and found them to be an equal or even more reliable predictor than the percentage gathering and vote counting that the talking heads were throwing out on TV.
The interest does not stop with using the live betting odds for information. Final outcome aside, the bets are in and are huge. According to Betfair, one of the world’s largest online betting companies, nearly $300 million has been bet on Biden or Trump. Other estimates put that number at nearly a billion dollars globally. When the dust settles, the election is likely to exceed the Super Bowl in terms of overall dollars bet, albeit not through legalized US books. And this is just the beginning. While sports may always be king, this election is proof that wagering has permeated deep into our culture and there is no stopping it. The popularity of betting on the Oscars, political events, reality TV, even the next day’s weather will continue to rise as this election has educated even non-sports lovers on how betting lines work.
Sports Betting News and Picks Recap
Finally, voters in three more states (Maryland, Louisiana, South Dakota) approved pathways to legal sports betting. A future in which there is legal sports betting widely spread across the country with major demand for non-sport events on the board has a growing mandate across America.
As for us, we will stick to sports, which is what we do best. Let’s dig into my sports betting picks recap from the past week.
Last week was another winner for KrackWins, going 11-8-1 (+3.8 units). NCAAF continued to break out of an early slump, landing at 5-3 (+3.5 units). I am excited for a full board this weekend as the PAC-12 hits the field for the first time.
Is it perfect? No.
Do we miss the fans? Of course.
But this college season is now fully loaded for a run to the Playoff and we are ready to make the most of it. The NFL went 5-4-1 (even) on the week and PGA went 1-1 (+.3 units). With the temperature dropping and the holidays upon us, it sounds weird to say, but the Masters tees off next weekend and I cannot wait.
Between politics and the pandemic, the next two months will be unlike anything that we have experienced before. No one really knows what to expect. My advice is to be grateful for whatever you have, allow the chips to fall where they may without torturing yourself over the things you cannot control, and focus on the joy of sport and building that bankroll.