Betting on the 2020 U.S. Presidential Election was briefly available in one state: West Virginia. FanDuel Sportsbook had betting lines up for a whole 15 minutes after receiving approval from the West Virginia Lottery, but ultimately decided to take the lines down at the request of West Virginia state officials.
Could other states such as Colorado end up offering betting on the U.S. Presidential Election as well?
Is Betting On The U.S. Presidential Election Risky?
For those looking to bet on the election legally in the U.S., it’s not quite as simple as betting on an everyday sport. It’s not so much a federal issue as a state by state issue.
Aside from the worry that betting on the election could sway voter turnout, some financial regulators, such as the Commodity Futures Trading Commission (CFTC), have already rejected previous proposals to allow for betting on the election.
Due to financial regulators like the CFTC and its stance in opposition, it is unlikely that any licensed sportsbook operators in the U.S. will attempt to offer betting on the election.
As we saw in West Virginia, if approval is given by regulatory bodies, even big name sportsbooks like FanDuel would be willing to give election betting an opportunity. However, we also saw quick action from West Virginia officials to put the brakes on their plans.
Chances Of Colorado Sportsbooks Offering 2020 U.S. Election Betting
The 2018 PASPA ruling by the U.S. Supreme Court took away most of the federal government’s power to regulate sports betting. Now it is up to individual states to decide whether or not to legalize sports betting and how to regulate it.
Colorado now has legal sports betting, which with no official delays announced as of this writing is still expected to launch on May 1. So could Colorado possibly decide to offer betting on the upcoming 2020 U.S. Presidential Election?
The answer is most likely no. Even in a tough time like the current coronavirus pandemic, it is unlikely that Colorado, or any state for that matter, will give approval to allow betting on the upcoming election. The potential risk on the frowned upon subject is not worth the small reward. Instead, it is likely that more sportsbooks will look to eSports and virtual sports betting while live sports are currently on hiatus.
At the moment there are no legal sportsbooks in Colorado or anywhere else in the U.S. offering betting on the 2020 Presidential Election.