U.K. Gamblers Spend Millions Betting on American Elections

The Takeaway | Mar 14, 2016

March Madness unofficially started yesterday with "Selection Sunday." Basketball fans and novices alike began filling out brackets to try to guess which college teams might make it to the final four this year.

March Madness is an effective distraction from the news cycle and the presidential election, and it's a potential way to make a buck—literally billions of dollars are wagered every year.

What if it were legal to bet on the political elections in the United States? Wouldn't that get more people excited about politics?

In the United States, federal law prohibits gambling on local or national elections. But across the pond in the United Kingdom, people don't just bet on their elections, they can also bet on our elections. In fact, millions of British pounds have already been wagered on the race for the White House.

Mike Smithson is one of these British gamblers, and he tells us all about it. Mike is editor at PoliticalBetting.com

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